Oil Explodes, Bonds Scream Recession... And Europe Is The Sucker
Oil's next shockwave
Oil is accelerating towards $120, volatility is finally waking up, and systematic buying could add further fuel to the squeeze. But the real story extends well beyond crude. Oil and US yields are suddenly pricing very different macro scenarios, while Europe's energy vulnerability is once again being exposed. French bonds are under pressure, European equities are struggling, and even the once-resilient banks are cracking. Is the oil squeeze becoming a broader market problem?