Maleeha Bengali is CEO of MB Commodities Capital, based in London.
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With new liquidity about to pour in, it remains to be seen how will it affect equities, risk assets, and more importantly, money markets.
The macro tailwind only works for the oil market until physical market dynamics take over. When they do, unwinds can be sharp and painful.
This seems awfully similar to the 2000 tech boom when everyone was a genius being long. What could possibly go wrong?
As prices nudge towards $60/bbl Brent today, where do things stand?
When some asset classes stop moving to the mainstream mantra in place since last year, it pays to take notice.
There's too much free money in the hands of people who have no idea what trading is, but more importantly what risk management is.
Small traders are flexing their collective muscle to take on the Wall Street establishment, and it appears they're eyeing silver next.
We shall see what the future holds for the dollar as that is and always will be the key deciding factor for asset allocation and sector allocation too.
Oil is especially interesting as it is deemed the cheapest. Cheap is cheap for a reason.