March 18, 2022
RT @lutfullahbingol: While on the issue of r*, let me just get this off my chest: https://t.co/NIRJ7ma96e
RT @lutfullahbingol: While on the issue of r*, let me just get this off my chest: https://t.co/NIRJ7ma96e
Commodity markets seizing up: vicious loop where volatility -> companies reduce positions -> forced trading. That in turn contributes to even more volatility. bloomberg.com/news/articles/… For background check out Chartbook #100 adamtooze.substack.com/p/chartbook-10… https://t.co/94xmoIGN75
@opinion_joe Yeah. Precisely! That’s the horrible thought I can’t shake. How come the investors in Putin’s regime – in an extended sense – end up coming first.
RT @I_Rapley: @OnesandToozePod @adam_tooze @CameronAbadi Wall Street risk manager Aaron Brown has already produced the defense of the tuli…
SocGen, Raiffeisen, Unicredit and Citigroup are the big Western banks with heavy exposure to Russia. $57bn assets, 30k staff, 10m customer -> hard choices ft.com/content/ecb4bc… https://t.co/iIfOlUo7ws
RT @samuelmoyn: "The era of U.S. hegemony made the limits of these correspondents’ approach more clear." Amazing @krithikavaragur piece on…
RT @DanielaGabor: you can watch the recording of that presentation here – seems we have to create a category of Frankenstein Green (deriski…
RT @CUHistoryDept: "More than 50 million people are living under lockdown restrictions in China amid a dramatic surge of COVID cases. @One…
Bargain hunting: Unusual flows of Urals crude to India are explained by economics as well as politics. Discount on Russian Urals was about $25-30 a barrel, whereas freight rates would only add $3-4 per barrel ft.com/content/5efc63… https://t.co/YRbx6IU8jI
“It’s not like we are a retailer and we can leave our goods in Russia and fire staff — we are a living being with assets and liabilities that need to be unwound. This would create a lot of trouble,” Bankers on the difficulty of leaving Russia ft.com/content/ecb4bc… https://t.co/78D20DfaMU
Russia made debt payments in dollars on Wednesday. Russian sov debt prices surged. Chartbook #101 wrestles with perplexities of a situation in which, of all people, it is Putin’s creditors who continue to get paid. adamtooze.substack.com/p/chartbook-10… https://t.co/6tLUmV3oK2
Russian oil exports to India have quadrupled this month in a sign of the vast reshaping of global energy flows since Russia’s invasion of Ukraine. Unusual purchase of Urals blend are particularly telling. ft.com/content/5efc63… https://t.co/oH68XIPi78
The Chinese stock market is wobbly right now. But where households in China actually keep their wealth is real estate and that aint looking good. @rbrtrmstrng ft.com/content/0c8e60… Pairs well with Chartbook #99 on China under pressure adamtooze.substack.com/p/chartbook-99… https://t.co/JMBy8Iqs1N
84% state-owned French power utility EDF expects to take a 26bn euro hit from nuclear outages and gov elec price cap. ft.com/content/df0dbf… https://t.co/kko5lWnwKb
@Griboyedov1 @KatharinaPistor Sure but then lets impound his payments and make them available for Ukraine assistance.
The overwhelming majority of China’s household wealth is in real estate and those markets are not looking good. @rbrtrmstrng citing @PantheonMacro ft.com/content/0c8e60… Add that to the stack of issues in Chartbook #99 adamtooze.substack.com/p/chartbook-99… https://t.co/AzJnMiYXKA
Not every day you see a Georges Sorel quote on twitter. twitter.com/neurosocialsel…
15 African countries import more than half their wheat from Russia and Ukraine. Impressive numbers. For a wider view of the impact of Putin’s war on Africa, check out Chartbook #92. adamtooze.substack.com/p/chartbook-92… twitter.com/as_bello/statu…
Foreign direct investors in Russia are losing. Russians are losing. Ukrainians are LOSING everything. Why should investors in Putin’s regime, aka foreign holders of Russian sov debt, be allowed to pocket $117m in interest payments? Chartbook #101. adamtooze.substack.com/p/chartbook-10… https://t.co/sDNIOeNfYH
We are fussing right now about a possible Russian default on foreign-owned sov debts. But should the money have been lent in the first place? Post Crimea! Should any interest payment not be directed towards compensation fund for Ukraine? Chartbook #101. adamtooze.substack.com/p/chartbook-10… https://t.co/mnvh8tQzvo
Was asked by @guardian to write something about impending Russian default. Did so on Tuesday. Came out on Thursday am. Minutes later they actually pay up. But I actually think the take still stands up. Judge for yourself, Chartbook #101 on odious claims. adamtooze.substack.com/p/chartbook-10… https://t.co/ZIzX3eOewZ
Réclamations odieuses – sur les obligations de la #Russie🇷🇺 – La dernière nouvelle est que JPMorgan a traité les paiements d'intérêts du gouvernement russe. Le Trésor américain a approuvé le paiement comme ne violant pas les sanctions. Chartbook #101 adamtooze.substack.com/p/chartbook-10… twitter.com/azraisakovic/s…
RT @joedyke: 20,000 retweets and 35,000 likes for this blatant lie that 500,000 people were killed by NATO. We @airwars spent months rese…
RT @KatharinaPistor: @adam_tooze Perverse indeed. I would think this is not so much a matter of contract law, but of the sanction regime. N…
RT @kat_marianna: @adam_tooze @rch371 Wow! Robert Hockett’s nascent ideation on this goes back to at least 2011. @rch371 thank you for kind…
RT @LeftistsEU: @adam_tooze Where this matters most is in the jurisdictions of England and New York, under whose law most international deb…
RT @BuddyYakov: The Economic Consequences of Peace is a good text but I feel that people citing it about the current war are missing the "P…
Struggling to wrap my head around this Russian bond default scenario that has seemingly been deferred today. Should we be celebrating the $117m in payments to investors in Putin’s regime? adamtooze.substack.com/p/chartbook-10… https://t.co/ehekOq0ZSX
Back in Jan @rch371 suggested Chicago Fed should develop capacity to intervene in commodity derivative markets. forbes.com/sites/rhockett… ECB/Bank of England need something similar. Chartbook #100 on the macro financial ructions caused by oil price surge. adamtooze.substack.com/p/chartbook-10… https://t.co/olTiPolMqp
Did a piece for @guardian on the perverse logic of Russia’s default. What claims should Western creditors be able to make, who lent to Putin’s regime fully aware of "geopolitical risk”?theguardian.com/commentisfree/… https://t.co/LPUjMGTOIB
RT @jftaveira1993: .@adam_tooze: "It is time for legislation in the UK and US to ensure that if anyone is able to make financial claims aga…
Chartbook #100 on the macro finances of global commodity markets. adamtooze.substack.com/p/chartbook-10… Was triggered by appeal by Europe’s energy traders for central bank liquidity support! bloomberg.com/news/articles/… https://t.co/i5QwLok0xP
Oil supply chain: spiralling margin calls elevate risk of a new Lehman moment. ft.com/content/174bdf… Chartbook #100 digs into the finances of commodity markets. adamtooze.substack.com/p/chartbook-10… https://t.co/H8zmFboM7Y
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