Maleeha Bengali is CEO of MB Commodities Capital, based in London.
Recent Articles By The Author
There are a multitude of issues that can take the markets down, even as the Fed FOMC meeting approaches.
Capital outflows are twice as large today as they were the last time China devalued.
After all the fuss about the latest round of U.S./China trade talks, all that came out was the U.S. has agreed to postpone an increase of tariffs and that China would purchase more U.S. agricultural products.
Enough theatrics, back to fundamentals.
Ecuador had asked OPEC for permission to produce above its quota, but it was never answered. It matters little to OPEC -- but for Ecuador, it no longer serves its interests to be part of this bigger organization.
Like central bankers, the equity markets seem oblivious to weakening global economic conditions that indicate a recession already is here.