Bernard Swords
The theme of ‘bad news is good news’ was a feature last week. A poor #manufacturing ISM survey in the US sparked the recovery in #equity markets. This halted as we got a better non-Manufacturing ISM and a robust non-Farm Payrolls."
Brian Flavin
The Winter 2022 market looks well balanced, for now, and risks of a gas shortage leading to blackouts in the the near term appear manageable. The bad news is that barring any resolution with Russia, high gas prices are needed for longer to reduce demand and divert liquified natural gas supplies from elsewhere.