It's going to get rockier as a second split between East and West is being created.
To say this has been an eventful week has been an understatement. Through Friday morning, the 16% weekly surge in the S&P GSCI index XX:SPGSCI tracking commodities is the highest in at least 50 years. The cause, of course, is the invasion of Ukraine by commodities supplier Russia, and the package of Western sanctions triggered in response.
“Entire supply chains will be rewritten, with new sources and partners — all in the interest of corporate and national security. This will create massive volatility and unpredictability,” says Fuller. Consumers will face higher prices, but also reward brands that consistently and predictably provide availability.
Granted, U.S. stocks have held up well this week, with just a 1% drop for futures on the S&P 500. Even in the 1970s when global architecture collapsed, the U.S. managed to emerge stronger and more central. Rabobank’s Every says the fundamentals say that could happen again, but the journey ahead could be shocking.
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