You can also listen to this podcast on iono.fm here. ADVERTISEMENT CONTINUE READING BELOW FIFI PETERS: The focal story, the big story on the market right now, is the events that happened at the weekend and news of a Palestine attack on Israel, and the subsequent retaliation from Israel.
But if we take out the human loss and just look at the investment side of things – which is our job – it does become, as you said, quite complicated. There are a lot of moving parts. NICK KUNZE: As I said, Fifi, it does get quite complicated. So on the really base-case scenarios, if you don’t follow these too closely, the bottom line is that Israel is not an oil major; it doesn’t export any oil or produce any oil. And the only sort of effect that it would have is I guess if there’s a sort of knock-on effect, a bigger cause in the region.
FIFI PETERS: You said you had to be in the office at six o’clock this morning, more than to make sense of the situation, to try and limit as much potential damage to the portfolios of the clients that you manage as a result of the situation. So tell us what you did, Nick. I suppose what I’m asking is a broader question around market strategy right now, and what you do in this environment with money.
So you had the likes of Sibanye and Harmony and AngloGold Ashanti, with all the shiny stuff dig out of the ground, getting a nice bid today. FIFI PETERS: And some of those moving parts of course include inflation, what this possibly means, interest rates, and what this could potentially mean. I do know that the major central bankers and major financial official decision makers, the finance ministers and all those meeting in Morocco, Marrakesh, this week – going into next week as well for the IMF World Bank Spring meetings.
I think there are about 12 Fed speakers, Fifi, who are speaking this week; so a big week as well for the likes of a possible indication of direction of interest rates. But for now, the market up until the end of last week was certainly playing the theme that interest rates are going to be higher for longer than we would like.
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