Media

Best execution is one of the core obligations applicable to a regulated investment firm when executing client orders under the European Union’s MiFID II framework, but it is also one of the most easily reduced to a slogan. The phrase is widely used, while the  technical requirements underlying it are not always clearly  explained. IMPORTANT […]

Sanctioned oil — primarily from Iran, Venezuela, and to varying degrees Russia — accounts for a meaningful share of global supply that operates outside conventional pricing mechanisms. The volumes are large, the buyers are concentrated, the discounts to benchmark prices are sometimes substantial, and the operational arrangements involve a ‘shadow fleet’ of vessels that have […]

Modern financial markets often feel detached from physical geography. Capital moves at the speed of electronic settlement, equity prices update in milliseconds, and the conversation about markets focuses on intangible drivers — earnings, monetary policy, sentiment, narrative. Yet the events of 2026 — the Hormuz crisis, the resumption of Red Sea attacks, the ongoing implications […]

China’s electric vehicle industry, with BYD as its most visible champion, has emerged as one of the structural features of global capital markets in the 2020s. Annual production volumes that surpassed Tesla, expanding international footprint despite tariff barriers, vertical integration across batteries and components — these are not small developments. They reflect a coordinated industrial […]

Headline coverage of commodity shocks tends to focus on crude oil and natural gas, where the macroeconomic implications are largest and most familiar. Less visible — but often more economically consequential at the industry level — are disruptions to specialty commodities such as jet fuel, helium, certain industrial gases, and specific refined products. The 2026 […]

‘Buy the rumour, sell the fact’ is one of the oldest and most commonly  misunderstood market sayings. Many investors learn it as a phrase, ignore it in practice, and discover repeatedly that the price they expected to see when news confirms is not the price the market actually delivers. The phenomenon is well documented and […]

Iran-related scenarios are among the most consequential geopolitical variables for global markets in 2026. The Strait of Hormuz crisis that began in late February has produced the largest energy supply disruption since the 1970s, and the range of possible developments — from rapid de-escalation to extended regional conflict — has wide implications for oil, currencies, […]

Few topics produce more confident commentary and less analytical clarity than the ‘petrodollar.’ Discussions oscillate between two extremes — the system is unbreakable and the dollar’s reserve status is permanent, or the system is collapsing tomorrow and dollar-denominated assets are doomed. The reality is more nuanced and more interesting. The petrodollar arrangement is real, has […]

The Strait of Hormuz is a narrow stretch of water between Iran and Oman through which approximately 20 million barrels of oil per day move in 2025-2026 — roughly a quarter of seaborne global oil trade and a meaningful share of global LNG. The 2026 disruption that began in late February has produced one of […]