OPEC delivered on their promises this week, and the oil market rewarded them for it. The potential downside volatility on a failure to come to an agreement was huge, and markets breathed a sigh of relief. Expectations were met and not having to reckon with the macroeconomic and balance sheet consequences of a bad result is a gift that was welcomed.
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Macroscope: Calm Between The Storms
- Published:
02 Dec 2016 -
Author:
Medley Global Advisors -
Pages:
3
OPEC delivered on their promises this week, and the oil market rewarded them for it. The potential downside volatility on a failure to come to an agreement was huge, and markets breathed a sigh of relief. Expectations were met and not having to reckon with the macroeconomic and balance sheet consequences of a bad result is a gift that was welcomed.