Financial markets are telling us something, so it seems.
Thursday's actions by the U.S. on Russia highlight how crypto makes it much easier for despots to avoid the impact of sanctions.
For now, they have achieved their objective, showing President Biden firmly who is in charge.
Those blindly chasing the reflation trade tick for tick, better pay heed to physical market fundamentals.
It seems Saudi Arabia is just buying time to support oil.
For now, recovering from oversold levels makes sense. But is this the start of a full-blown price recovery?
Demand is collapsing from global lockdowns, just as supply is surging from all the major, battle-ready producers, who refuse to blink first amid the price war.
The oil company has been in a sustained downtrend and the latest news from the oil patch will not help.
Markets appear stable. Do we trust it? Can we trust it? Of course not.
So what do you do if you own these stocks?