Attention now shifts to the expected impacts of the attack on energy, global growth, inflation and central bank actions.
Markets reacted strongly last week to news of Russia’s invasion of Ukraine. The world has been watching the escalation of tensions in the region since the beginning of the year. Russia opposes the idea of Ukraine joining NATO, a move it says encroaches on its sphere of influence and puts the United States on its doorstep. The invasion is likely to have a significant human cost, and our thoughts are certainly with the people of Ukraine.
Prior to Russia’s action, investors were primarily focused on high inflation and impending interest rate hikes. Now the focus is on the expected impacts of the attack on energy, global growth, inflation and central bank actions.
Energy: need to clarify additional penalties
Simmering tensions between Russia and Ukraine have driven up oil prices since the start of the year. Given the fragile demand and supply dynamics, volatility in energy prices might continue, particularly if sanctions once morest Russia escalate and provoke a further reaction from Russia. The United States and Europe are both trying to penalize Russia – but without hurting energy markets and creating new inflationary pressures. Russia supplies a huge amount of natural gas to Europe, and this gas cannot be replaced quickly.
Greater vulnerability to growth and inflation in Europe
The United States and Europe were already under pressure from high inflation due to a combination of supply issues and strong demand. But inflation and growth in Europe are more vulnerable to an energy price shock because, compared to the United States, the region’s economies are heavily focused on manufacturing and trade. In the United States, the economy is more diversified and service-oriented, making it less susceptible to energy price shocks, while the share of international trade in GDP is 23% (in comparison, it is 81% in Germany).
The Fed is unlikely to change course on monetary policy tightening
For central banks, geopolitical tensions make the timing and magnitude of rate hikes complex. The strategy of the European Central Bank (ECB) might be affected more directly if the crisis escalates (and we might see it delay its plans to withdraw monetary accommodation later this year). In the US, the Fed is unlikely to change course on monetary policy tightening and we continue to expect an initial 25 basis point rate hike in March.
The Fed will expect slower inflation and wage growth in the second half of 2022 to know whether to speed up or slow down monetary tightening. Oil prices are unlikely to play a major role in this decision unless a change were to have a significant impact on the outlook for economic growth.
Market response
We are seeing a sense of risk loss in emerging markets as the possibility of imposed sanctions increases, although Russia and Ukraine together make up only around 3.5% of the EM debt index in foreign currencies. strong. From a credit perspective, the investment grade and high yield markets seem to sell first and ask questions later. Most Russian companies are at the lower end of the Investment Grade rating scale and might be downgraded to High Yield due to sanctions risks.
Now is not the time to panic
Market corrections caused by wars and oil market disruptions have always been sharp but short-lived. As always, volatility prompts investors to do something urgently, but we recommend staying invested and focusing on long-term goals. Active management can help investors ride out short-term market shocks while capitalizing on longer-term trends.
Although recent events have created a difficult period for the markets, it is important to remember that volatility can provide opportunities to identify valuation gaps, unearth hidden gems or supplement existing positions at opportune times.
She will be the first African-American woman to serve on the Supreme Court. At 51, Ketanji Brown Jackson was nominated by Joe Biden, who made the commitment during the presidential campaign. “It’s time we had a court that reflects all the talents and greatness of our nation,” said the US president. The voluntary departure of Judge Stephen Breyer made this historic decision possible. The Senate has yet to confirm this choice. It is likely that elected Republicans will multiply the obstructions. But they will certainly not take the risk of permanently blocking the appointment of the first African-American woman to the most powerful judicial institution in the country.
Former assistant to Judge Breyer, between 1999 and 2000, Ketanji Brown Jackson is currently a judge with the federal district court for the District of Columbia, a position for which she had been confirmed by the Senate with 53 votes (including 3 Republicans) once morest 44 She is considered a “progressive” who sees the Constitution as a living text, in opposition to the conservative “originalists”, now in the majority on the Supreme Court. “I just hope that my life, my career, my love of country and the Constitution, and my commitment to the rule of law and the sacred principles on which this nation was built, will inspire future generations of Americans, she said during the ceremony formalizing her appointment last Friday at the White House.
“Chang International Circuit” in collaboration with “Ministry of Tourism and Sports” and “Chang Drinks” prepare to explode the fun of the continental championship on two wheels at the 2022 Asia Road Racing Championship following a long absence. 2 years, with Thailand hosting 2 races, the first field 25-27 March and the end of the season on 18-20 November, with a list of 7 Thai riders participating in the speed duel The copyright owner of the competition is confident in measures to support and prevent the spread of COVID-19. very well
Monday, February 28, 2022 at Rajapruek Club, Bangkok: Chang International Circuit, Buriram Province held a press conference to organize the Asia Road Racing Championship 2022 with Mr. Pipat Ratchakitprakarn, Minister of Tourism. and sports, Mr. Suraphon Utintu, executive of the Office of External Coordination of Thai Beverage Public Company Limited by Chang Drinks, Mr. Newin Chidchob, chairman of Chang International Circuit, as well as representatives from Thai Honda Manufacturing Company Limited and Thai Yamaha Motor Company Limited, including an army of riders representing Thailand who compete in the event
The motorcycle race on the Asian continent, the Asia Road Racing Championship 2022, competes in a total of 6 races in 5 countries, with Thailand divided into 2 races, the first and the last race of the season. which is scheduled to be held on 25-27 March and 18-20 November 2022
Mr. Phiphat Ratchakitprakarn, Minister of Tourism and Sports, said, “The Ministry of Tourism and Sports I am very pleased that Thailand will host the Asian Motorcycle Championship twice, being selected for the opening and closing seasons. After a two-year hiatus from hosting international motorsports, it has shown confidence in COVID-19 control measures. which is accepted in the eyes of foreigners internationally”
“I believe that this competition This will help publicize the image of Thailand’s readiness to open the door for sports activities. readiness in competition management; public health; various facilitations. For racers, racing teams, spectators, before hosting a world-class race like Moto GP 2022 between 29 September – 2 October 2022, because Buriram and Chang Stadium through organizing large events come many times amid the COVID-19 situation with rigorous public health measures which in addition to creating a good image will also be able to stimulate the economy from bringing money from foreigners to Thailand as well.”
Mr. Suraphon Utintu, Executive Director of the Office of External Coordination of Thai Beverage Public Company Limited by Chang Drinks, revealed that “Elephant Brand beverages As the main sponsor in the sports industry and trying to continuously push the Thai motorsport industry In order to create a stage and prepare the Thai racers, racing teams to continue to compete at the international level. This is a good opportunity That this year we are able to return to organize international competitions. I believe that the Thai racers are fully equipped to produce impressive results. and build a reputation for Thailand Certainly not inferior to other nations.
Ron Hogg, president of Two Wheels Motor Racing, owner of the race license, said: “One of the reasons we chose the sidewalk It is a field that opens the season because we are confident in our potential. The field has already prepared the measures and from the Chang Field. Organized the OR BRIC Superbike Thailand Championship last year. including the recent Buriram Marathon race. There are measures to support and prevent the spread of COVID-19. very well I believe that this year’s all-around competition will be very intense, and fans will be delighted to watch the game in every race.”
Mr. Newin Chidchob, chairman of the Chang Stadium International Circuit said, “Chang International Circuit is always prepared. To support world-class motorsport competitions, over 2 years we have been unable to organize international motorsport competitions. This return of the Asia Road Racing Championship will delight Asian speed fans. Especially Thai people are awake once more. It stimulates the overall economy. At the same time, it will make the process of developing the motorsport industry. come back and move forward fully.”
“This year the hardest homework is to organize races alongside health safety. Drivers, race teams, teams from abroad. Must have a full dose of vaccine and registered in the Thaipass system with a negative RT-PCR result no later than 72 hours before entering the country. Test & Go entry must be adhered to. RT-PCR is performed on the first day of arrival. Stay in a hotel that is SHA EXTRA+. ATK is re-checked before entering the field of play. Participants Including the audience must receive the full dose of vaccine. Due to our readiness to organize international events including the success of the Buriram event past marathon we work hard in order to set up the system as perfect as possible,” concluded Mr. Nevin.
The Asia Road Racing Championship will compete in 4 speed races, namely Asia Superbike 1000cc, Supersport 600cc, Asia Productions 250cc and Underbone 150cc. A total of 7 Thai racers participated in the competition, consisting of the Asian Superbike 1000 cc “Champion” Phaswit Thitiwararak from Honda Racing Thailand, “Stamp” Apiwat Wongthana. Non and “Tee” Anupap Samul from Yamaha Thailand Racing Team, in the Super Sport 600 cc version, consisting of “Float” Rattaphong Wilairot from Yamaha Thailand Racing Team, ” Chip” Nakarin Athiratpuwapat, “New” Kritchaphon Kaewsonthi from Honda Racing Thailand. In the game, the Asian production version of 250 cc will have “Film” Piyawat Prathumyot from Honda Racing Thailand down to chase success
For the Asia Road Racing Championship 2022, there will be a total of 6 speed duels, starting from the first field on March 25-27 at Chang International Circuit, Buriram Province, field 2 on May 27-29 at the stadium. Sepang International Circuit, Malaysia, Circuit 3 July 1-3 (track not specified), Field 4 August 12-14 at Sportsland Sugo International Circuit, Japan, Circuit 5 September 9-11 at Zhuhai International Circuit, China and return to celebrate the championship in the final field on November 18-20 at Chang International Circuit, Buriram Province.
However, speed fans can watch the race. They must receive full doses of vaccination and follow strict public health measures. Tickets are now available for purchase at Counter Service All Ticket in all 7-Eleven stores. There will be a 25% discount on the ticket price when showing Elephant Brand drinking water and natural mineral water products. You can find details of discounts from other sponsors at Page Chang Circuit Buriram or watch via online live streaming both the Chang Circuit page and the Asia Road Racing Championship page, including watching the live broadcast both in the country. and all over Asia In Thailand, watching via T Sport 7, abroad watching via SPOTV, broadcasting in 13 countries in Southeast Asia, Malaysia, Astro Arena, and Indonesia. Watch on TV One