Call This Storm Leviathan—It’s Big; It’s Bad; It’s Caused by Policy Last week HAI likened the current market and economic dynamics to a [...]

[AP] Ukraine fights to hold off Russian advances in south, east [Reuters] Ukraine says Russia pounding Donbas, failing to take targets [...]

The Shanghai Composite sank 5.1% Monday, fell another 1.4% Tuesday, rallied 2.5% Wednesday, increased 0.6% Thursday, and then rose 2.4% Friday – [...]

[Yahoo/Bloomberg] Germany Won’t Block a Russian Oil Embargo, Habeck Says [Reuters] Russian submarine strikes Ukraine with cruise missiles, defence [...]

[Reuters] Russia steps up assault on east Ukraine, Putin threatens countries that intervene [Yahoo/Bloomberg] Ukraine Latest: EU Says Ruble Accounts [...]

[Yahoo/Bloomberg] Ukraine Latest: EU Warns Ruble Payments for Gas Breach Sanctions [Yahoo/Bloomberg] Russia to Cut Gas to Poland, Bulgaria Until Pay [...]

[AP] Russia pounds eastern Ukraine as West promises Kyiv new arms [Reuters] Moscow cites risk of nuclear war as U.S., allies pledge heavier arms for [...]

[MSN/WP] U.S. wants Russian military ‘weakened’ from Ukraine invasion, Austin says [AP] Russia hits rail, fuel facilities in attacks deep in [...]

[Yahoo/Bloomberg] Ukraine Latest: Fresh Calls for Mariupol Ceasefire, Evacuations [AP] Ukraine leader pushes for more arms; US officials to visit [...]

The Markets Open One Eye to Danger Last week’s HAI pointed out that a storm is brewing. We are facing a complicated set of interrelated problems. [...]

[Yahoo/Bloomberg] Ukraine Latest: Russian Strikes on Mariupol; Easter Curfews Set [Yahoo/Bloomberg] Zelenskiy Warns on Russian Ambitions After [...]

It was an important week – perhaps critical. There was additional support for my macro thesis. The bottom line: increasingly unstable global [...]