Bob Elliott
· Nonconsensus
· March 09, 2026 at 10:32
| Read on Substack ↗
Summary
The author observes that the market's reaction to a recent, significant oil shock has been surprisingly subdued, with the consensus appearing to believe the impact will be transitory. The author also notes that trading geopolitical conflicts is inherently difficult as their outcomes are driven by political decisions rather than economic fundamentals.
•Despite a major oil shock, market reactions have been limited.
•The consensus view is that the shock's impact will be transitory.
•Trading geopolitical events is challenging because they are driven by political, not economic, factors.