The Q - Daily Edition
Friday 13th ...
"There are no conditions to which a person cannot grow accustomed"
— Leo Tolstoy in Anna Karina
Short note only today, make sure to check out the upcoming Quotedian - Weekly Edition, most likely published early Monday morning. It will be a longer issue, but mostly due to a large number of charts, as the bridge of the USS Enterprise ASS Quotedian checks for damage control across the macro landscape.
As a matter of fact, today’s note is that short, that I will leave you just with the very powerful chart of the day (COTD).
Have a great weekend and: "May the Trend be with You!
André
When two tribes goes to war … nearly everyone loses.
Nearly everyone. In the case of the Israel/US-Iran war there seems an early award has already been given.
Aaand the winner is …… Russia!
Our COTD shows how the discount (lower clip, light grey) on Russian oil (upper clip, red) to Brent (upper clip, dark grey), in place since the outbreak of the Ukraine-conflict, has not only diminished, but actually briefly converted into a premium!
And then, let me add this “mysterious” headline to the mix:
US GDP Q4 (2nd est.) — 8:30 ET. Advance was +1.4% ann.
US Personal Income & Spending (Jan) — 8:30 ET. PCE deflator is the key print
U. of Michigan Sentiment (Mar prelim) — 10:00 ET. First read post-Iran shock
UK Industrial Production & Trade Balance (Jan) — 08:00 GMT
Canada Employment Report (Feb) — 8:30 ET
Hormuz headlines — Brent back >$100, IEA stockpile release vs tanker disruptions
FOMC blackout ahead of Mar 18–19 meeting — no Fed speakers
Everything in this document is for educational purposes only (FEPO)
Nothing in this document should be considered investment advice
Investing real money can be costly; don’t do stupid shit
Leave politics at the door—markets don’t care.
Past performance is hopefully no indication of future performance
The views expressed in this document may differ from the views published by NPB Neue Privat Bank AG