Mutinous Russian mercenary fighters barrelled towards Moscow on Saturday after seizing a southern city overnight, with Russia's military firing on them from the air but seemingly incapable of slowing their lightning advance.Here are reactions from investors and analysts to the news: STEVE SOSNIC
Mutinous Russian mercenary fighters barrelled towards Moscow on Saturday after seizing a southern city overnight, with Russia's military firing on them from the air but seemingly incapable of slowing their lightning advance.STEVE SOSNICK, CHIEF STRATEGIST AT INTERACTIVE BROKERS:
"Even with Russian embargoes, they still sell plenty of raw materials to sympathetic nations like China and matter to the global supply. It is reasonable to expect oil and other key commodity prices to rise. If oil prices rise sharply, that will indeed weigh upon equities and reignite stagflation fears. Gold is tough to read. In theory it should benefit from a flight to safety, but in practice a strong dollar can impede it.
“Any time you have these kinds of political disturbances in a commodity nation you at least expect a short term shock to the prices of the commodities produced there.” “Turmoil effects include the price and availability of Russian energy. Geopolitical impact on Russian alliances like Belarus and nearby countries in Soviet sphere. In EU what does Hungary or NATO ally Turkey do.“Initial market reaction will be driven by news reports and by any concrete events. That is usually true of most rapidly changing event sequences. The strategic damage is already done.
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