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Pullback Considered Corrective

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Holding Above Recent Lows

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BLOCK, Large 3Y Midcurve Put Condor

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LOCAL NEWS

  • Fitch says the recent Germany-US deal on Nord Stream 2 eliminates risk of downtime on the pipeline with the imposition of new sanctions to stop its completion being reduced to zero.
    • Notes maintenance of the Ukraine transit route is not bad for Gazprom as it enables Russia to increase supply to Europe if demand grows
  • Russian FM Spox says inconsistencies in the Organisation for Prohibition of Chemical Weapons (OPCW) regarding the poisoning of Navalny confirm that the incident was an orchestrated provocation
    • highlighting the long wait period before Germany's release of the report that could have happened immediately.
    • This was deliberately orchestrated to "cast a shadow on Russia's reputation" and must be subject to closer study