In the Blind Spot (Aircraft carriers, Rouble, Larry Fink )

This edition of the Blind Spot Wrap was compiled by Izabella Kaminska (IK) and Dario Garcia Giner (DGG). Markets, finance, economics etc… Russian rouble hits near 7-year high vs dollar as tax payments loom (chart courtesy of CNBC). Putin has been indulging in the schadenfreude. Here’s what he’s been saying in his domestic channels. The […]

In the Blind Spot ($hortages, Roubini, Mass hysteria)

Finance, markets, economics etc… The new corporate governance – a paper by Oliver Hart and Luigi Zingales that argues in favour of replacing shareholder value maximisation with shareholder welfare maximization. The yuan is depreciating quickly: (Chart courtesy of the FT’s market pages.) The People‚Äôs Bank of China (PBOC) said on Monday that it will cut […]

In the Blind Spot (Gosplan, Falklands, Chelsea)

Finance, Markets, economy etc… Vanity Fair deep dives into the Dan Loeb school of activist investing. Serena Williams, Lewis Hamilton join former Liverpool chairman Martin Broughton’s consortium to buy Chelsea football club. Israel adds China’s yuan for the first time ever while cutting its dollar holdings in biggest currency reshuffle in a decade. Rana Foroohar […]

Why the oil price is not what it seems

Just because oil prices are absorbing the prospect of an outright European ban on Russian imports well, doesn’t mean there won’t be a major breakout to $300 per barrel highs if and when such a ban is executed.

In the Blind Spot on Friday (Yergin, Nukes, Democracy)

Housekeeping note: Still running a reduced service because of the Easter hols. But will be back with gusto soon. Finance, markets, etc.. The ECB did a CBDC survey, and it turns out people are keen on privacy. More on how Zoltan Pozsar sees the world. Energy crisis threatens to eclipse 1970s shocks, says Daniel Yergin. […]

In the Blind Spot on Tuesday (Elon, Oil futures, Off balance sheet affairs)

Some housekeeping: It’s the Easter holidays so posting will be intermittent and light for the next two weeks. But not totally absent! Finance, markets etc… Pippa Malmgren on the off-balance sheet world. A really interesting piece that essentially makes explicit what has been implicit for a long time. That globalism and open source practice has […]

In the Blind Spot on Thursday (Media, Roubles, Satoshi )

Finance, markets etc.. Germany takes a step towards rationing over payment stand-off with Russia. Why is nobody talking about the fact that Russia is demanding gold for payments. [Here’s the release from the Bank of Russia on March 28 noting that they will be buying gold at 5,000 roubles per gram.] Putin says Russia will […]

In the Blind Spot on Friday (Russian stocks, bitcoin, Covid)

Finance, markets and economics: Reuters reports that Russian stocks fell in their second day of trading after a near month-long suspension. [But as far as I can see that’s definitely a rebound in the Moex? That also looks like a rebound in the rouble: Russia considers accepting bitcoin from friendly countries for oil and gas […]

In the Blind Spot on Thursday (Commodities, Commodities, Commodities)

Commodity power US goods risk being late as China’s lockdowns worsen shipping port jams. [But remember it’s just “transitory” ] Someone in the Blind Spot Discord asked: Do sanctions cause a shortage of crude and gas or a displacement? [A verified par moi OSINT reply: “China is by far the largest importer of Iranian crude […]