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“Investors are still focused on Russia/Ukraine issues, savvy stock players are shifting to crypto, commodities or standing aside” — Paul Ebeling
The Russia-Ukraine is having far-reaching impacts on the global food system, threatening farmers, agricultural markets and everyday consumers. Talks between Ukraine‘s and Russia ‘s diplomats last wk yielded no discernible progress. And nothing yet this wk.
The Stock market is looking past the Russia-Ukraine war, as savvy stock players are shifting to crypto, commodities. art or standing aside.
Investors did not receive any economic data Monday. Tuesday investors will receive the Producer Price Index for February and the Empire State Manufacturing Survey for March
- Dow Jones Industrial Average -9.3% YTD
- S&P 500 -12.4% YTD
- Russell 2000 -13.5% YTD
- Nasdaq Composite -19.6% YTD
On the Crypto Front
Bill Gross, 77anni, the Bond King, said today, “I do think we need an alternative to the dollar as we’ve seen in the last week or two and that you know, there will be several survivors and I’m invested to a small extent in bitcoin.” And there is this: Crypto exchange revenue grew 700% in Y 2021, surpassing the NYSE. Crypto is here to stay.
On the Fine Art Front
Luxury Crypto: Knightsbridge NFT Division Enters the World of Fine Art
For millennia artists sold their work to museums, galleries, or individual collectors, then the artist would get an agreed value for their work, which was often kept in private vaults and displayed to the public intermittently.
NFTs empower artists and creators by democratizing the luxury economy
Have a healthy, prosperous week, Keep the Faith!
