HBDLH Women's shoes/Spring And Autumn Flat Bottomed Heel Middle Tube Boots Ladies Boots Single Boots Short Boots... B07H2RPY6Y Parent , HBDLH Women's shoes/Night High Heel Shoes Autumn Winter Boots Wine Cups Pointed Toads Ankle Boots Side Zippers... B07H2RPY6Z Parent , HBDLH Women's shoes/Autumn And Winter Retro Square Thick And Short Boots Female Fashionable Plaid High Heel Martin... B07H2RPYG3 Parent , HBDLH Women's shoes/Martin Boots Female Frosted High Heel Thick Heel Short Boots Autumn And Winter Money Short... B07H2RVDRR Parent , HBDLH Women's shoes/Simple And Rough With 5Cm Martin Boots Female Wild Side Zipper Middle Heel Short Boots Single... B07H2RVDS3 Parent , HBDLH Women's shoes/Fine With Pointed Shoes Sexy Three-Dimensional Embroidered Flower Short Boots High-Heeled... B07H2RVHV4 ParentHBDLH Women's shoes/High Heel Boots Female Thick And Short Boots Autumn And Winter Martin Boots Fashionable Joker... B07H2RVLLC Parent
HBDLH Women's shoes/Elastic Velvet Thin Boots Heel And Ankle Boots Square Head Boots Thin Leg Boots And Boots... B07H2RVLLJ Parent , HBDLH Women's shoes/Skinny Short Boots Female Martin Boots Cowhide And Ankle Boots Middle Heel Boots 5Cm B07H2RW928 Parent , HBDLH Women's shoes/Spring And Autumn Women'S Shoes Pointed Flat Bottomed Fashion Bare Boots Ankle Boots Women'S... B07H2RW92C Parent , HBDLH Women's shoes/In Autumn And Winter With A Flat Bottomed Short Pointed Boots Thick Heels Zippers Chelsea... B07H2RW92D Parent , HBDLH Women's shoes/Winter Women'S Shoes Chelsea'S Short Boots Flat Bottomed 3Cm And Ankle Boots Soft Bottom Velvet... B07H2RW92G Parent
HBDLH Women's shoes/Short Boots Female Spring And Autumn Carved Tips High-Heeled Shoes Thin Heels Single Boots... B07H2RWZ6M Parent , HBDLH Women's shoes/Autumn Winter High Heel Short Boots Women Velvet Elastic Sharp Pointed Multi Touch Drill Sexy... B07H2RWF41 Parent , HBDLH Women's shoes/Mother Cotton Shoes Female Winter Warm And Velvet Low And Anti Slip Short Boots Thick Thick... B07H2RYY6X ParentHBDLH Women's shoes/High Heel Shoes Female Winter Elegant Metal Side Zipper Sharp Pointed 10Cm Short Boots Sexy... B07H2RXR5B ParentHBDLH Women's shoes/Lacquer And Velvet Martin Boots Women Winter And Winter Tie Short Boots Flat Bottomed Chelsea... B07H2S23P3 Parent
HBDLH Women's shoes/Bow Tie Color Winter Super High Heel Short Boots Female Sharp Head Martin Boots Ankle Boots... B07H2S4FWD Parent , HBDLH Women's shoes/Medium Tube Boots Mama Cotton Shoes Middle And Thick Bow Winter Boots Ladies Boots Warm Cotton... B07H2S4G7M Parent
HBDLH Women's shoes/College Retro Martin Boots Girls Students Flannel Velvet Women'S Shoes Winter Boots Flat Bottomed... B07H2S7DTC Parent , HBDLH Women's shoes/Winter Cotton Shoes Women Sloping Heels Boots Muffins And Waterproof Table Boots Boots And... B07H2S7DTW ParentHBDLH Women's shoes/Winter Short Boots Female Thick And Martin Boots Frosted Genuine Leather Waterproof Table... B07H2S7DTR Parent
HBDLH Women's shoes/Pointed Short Boots Female Heels Sexy Fashion Buckles High Heels Ladies Boots Ankle Boots... B07H2SGPYC Parent , HBDLH Women's shoes/Martin Boots Ladies Short Boots 4Cm With Naked Boots Short Short Tube Female Boots. B07H2S8L1P Parent , HBDLH Women's shoes/Autumn Winter Women'S Shoes Muffin Martin Boots Women Reverse Boots Flat Bottomed Boots Thick... B07H2SGPYY Parent , HBDLH Women's shoes/Women'S Shoes In Autumn And Winter Women'S Boots Spring Boots Cotton Boots Martin Boots 4Cm B07H2SGPYG Parent , HBDLH Women's shoes/In Autumn And Winter Sharp And Simple High Heeled Short Boots Fashionable Sexy Fine Shoes... B07H2SPQKF Parent , LBTSQ-Fashion Match Rivets Shoes High-Heeled Bare Boots 11Cm Fine Heels Waterproof Table Round Head Women'S Boots... B07H2TQB1L ParentHBDLH Women's shoes/In The Spring And Autumn Season Chelsea Martin Boots Wild 2Cm Flat Bottomed Boots Antique... B07H2SPQKQ Parent
On the latest edition of Market Week in Review, Rob Cittadini, director, Americas institutional, and Chief Investment Strategist Erik Ristuben discussed the recent rise in oil prices amidst political unrest in Saudi Arabia.
Oil prices on the upswing as turmoil engulfs Saudi Arabia
The recent events in Saudi Arabia helped fuel a steep increase in oil prices across the globe the week of Nov. 6, Ristuben said—with the cost of U.S. West Texas Intermediate crude rising to nearly $57 a barrel, up from roughly $49 a month earlier. “Whenever there’s a potential change in tenure or political tone in a country, that creates volatility,“ he explained, adding that geopolitical risks very rarely have a lasting impact on markets.
That said, in Ristuben’s opinion much of the uptick in oil prices is better attributed to the health of the global economy. As evidence, he cited the upward adjustments to the estimated gross domestic product (GDP) growth rate in both Europe and the U.S. “This is further proof that the global economy is expanding,” he said—“leading people to begin pricing in a higher demand for oil.”
U.S. tax reform debate continues
Switching to the U.S., Ristuben noted that financial markets have been jittery in recent days as both houses of Congress continue to hammer out details of proposed tax cut legislation. “This serves as a stark reminder of just how hard it is to get anything done in the U.S. at the federal level, no matter which party is in control,” he said. Tax reform in particular is extremely difficult, Ristuben explained, because the economic makeup of the states or regions represented by members of Congress can vary wildly from one to the next. “This means that when you change the rules, there will be clear winners and losers,” he said.
Ultimately, Ristuben and the team of Russell Investments strategists believe that a tax reform package will get passed, likely in early 2018—but that it probably won’t be as ambitious in scope as what was originally laid out.
Global economy continues to shine—What could it mean for financial markets?
Transitioning to European economic news, Ristuben said that the continued surge in German industrial production was a high point for the week. The positive numbers are reflective of steady economic growth on a global scale, he said. “Overall, the latest data coming through has been consistently solid across the board—and markets have taken notice,” Ristuben stated.
He added that in his and other Russell Investments strategists’ viewpoint, this will likely translate into continued gains in the stock market—but that more volatility is also a possibility. “Negative pullbacks are common in equities—and we haven’t had one in a while,” Ristuben noted. “Don’t be surprised if one happens—and don’t be terrified either, because all things considered, I think the economy will continue to move forward.”
Watch the video or listen to the podcast. And subscribe.