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Mankind invented a system to cope with the fact that we are so intrinsically lousy at manipulating numbers. It's called the graph.
Quick recap
- The OPEC’s decision to cut oil production by 2m barrels daily triggered a sharp rally in crude this week and new political tensions between the cartel’s members and the west.
- The move comes at the wrong time not only for Europe but also for the U.S., where emergency reserves have been released over the past months as the Biden administrated is battling inflation.
- Embattled lender Credit Suisse made headlines this week as its CDS spreads soared while its share price hit fresh lows on mounting concerns about its strategic review’s success probability.
- In the face of the Credit Suisse debacle, investors pointed to higher capital buffers and stayed relatively calm this week, with equity markets finishing higher worldwide, led by the energy sector.
- Goldman Sachs kicked off the bargain hunting in Private Equity as U.K. pension funds initiate fire sales.
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