We are off to the races now. Markets have decided it’s easier to ramp than concern itself with the machinations of Fed’s Bullard.
Early going, gains are concentrated in both commodities and tech, with names like BTU breaking out due to the belief that a war in Russia could in fact be somewhat of a negative news event and real life event for people depending on energy to heat their European homes. I am heavily leveraged long commodities, with hedges, +115bps so far.
The weather in Kiev is mild, 40 degrees — not cold enough to prevent mud from being produced under the treads of T-72 tanks. It’s also interesting for you to know the Beijing Olympics ends on 2/20, which is the same day the Russian-Belarus war games conclude. Take from that what you will. But just know and let this be a remindooooor to you — war is looming and with it your portfolio of high value tech stocks will be swimming in a sea of red.
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