Ukraine-Russia War: Russian Problems & Reactions   The Ukraine-Russia Conflict continued with grinding incremental territorial losses by Ukraine in the east and gains in the north.  The Russian causality (dead and wounded estimates) count continued its higher tempo of over 30,000 in July per British Defense Intelligence.  Russia’s casualty rate…

During the month of July, Interest Rates (+1.25%) and the S&P 500 Index (+1.13%) were the top performers. The bottom performers were Energy (-8.14%) and the S&P GSCI (-4.66%). The Bearish performance in Energy (-8.14%) was largely led by Natural Gas (-21.72%).  The increase in the Currency (+0.43%) sector was…

Commodities: Global   OPEC Oil Output Increased 70,000 bpd to average 26.7 million barrels per day (mbpd) during June, according to a Reuter’s survey.  Nigeria and Iran reportedly increased production with Iran claiming to sell to some European countries.  Iraq and the United Arab Emirates have yet to fully implement…

Ukraine-Russia War: Russian Problems & Reactions   The Ukraine-Russia Conflict continued with grinding incremental territorial losses by Ukraine in the east and gains in the north.  The Russian causality (dead and wounded estimates) count continued its higher tempo of around 35,000 in June.  Ukraine continued to attack Russian oil refineries,…