It is obvious that not everyone likes the falling stock market and oil at low levels. Yes, a virus, yes, a possible pandemic, but we must deal with the impending crisis. And now we have already seen real steps from the leaders of countries in this direction. In general, we saw what I was supposed to see. On that position and were oriented.
The first one. This is OPEC. Novak has already confirmed that participation in the ministerial meeting of the OPEC and OPEC + countries is an example. This meeting will be held on March 6. But now we are getting information that the agreements may appear already on Wednesday, during a teleconference. Pay attention to how Novak “changed his shoes” after Putin’s meeting with representatives of the oil business on Saturday. Last week, our ministry was not eager to "close the valve", and yesterday initiated an in-depth discussion. It's good. Good for oil. She is growing at these events. Of course, you won’t have to wait for a fast-moving rocket, since demand is not recovering, but it is already starting to control supply well again.
The second is the G7 countries. Today, world finance ministers and central banks will hold a conference call to coordinate the financial and economic response to coronavirus. I can assume that they simply calculate the necessary amount of liquidity in order to stop the panic in the stock markets, and distribute this liquidity by country. That is, each country carries out QE well or "non-QE" in the volume that is required for everyone. It would be just a chic option. This is where the fall in markets will end and a correction will follow.
Of course, I can only assume such steps and maybe even just hope, but in reality anything can happen. This is the market.
The only thing we can accurately calculate is our risks. So hope for OPEC and G7, but don’t be fooled by yourself.
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