November 29, 2022

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Is July 22 ‘Doomsday’ For Europe?

Bloomberg: Marketplaces System Doomsday Scenarios If Russia Turns Off the Gasoline 

* Strategists lay out worst-situation eventualities for stocks and bonds 

* Europe is caught in a ‘vicious circle,’ claims Banque Syz CIO 

(Bloomberg) — European stocks plunging 20%. Junk credit rating spreads widening past 2020 crisis degrees. The euro sinking to just 90 cents. 

The predictions are ominous for economical marketplaces if Russia cuts off all the gasoline supply to Europe. 

Shipments are presently functioning at diminished levels with the primary pipeline shut for a 10-day servicing, and fears are developing about irrespective of whether Moscow will change the tap back on. Lots of buyers are inquiring: How lousy could this get? 

To that query, strategists throughout Wall Street have tried to set numbers on a scenario that would be unthinkable in normal times. There are so quite a few variables, these types of as the duration of any shutdown, the extent of source cuts, and how much nations around the world would go to ration power, that anyone’s prediction is a guess at ideal.   

Study extra …. 

WNU Editor: A Russian normal gasoline slice-off will be a catastrophe for Europe, and its effect will be felt globally.