XZGC Slotted Tie Sandals Thick With Summer Terrace and Women Shoes,3 UK, Light Brown B07BSZSCKX Parent , XZGC Summer Shoes Slotted Tie With Bold, Like Dew-Girl Sandals,3.5 UK, Light Brown B07BSZSD4R Parent , XZGC Coarse With Strap Sandals Sexy Women High-Heeled Shoes For Summer Word,2 UK, Pink B07BSZSTTS Parent , XZGC Sandals Summer Bow Tie Slot For Thick With High-Heeled Shoes of,3.5 UK, Light Brown B07BSZSXSF Parent , XZGC Thick With Sandals High-Heeled Waterproof Taiwan Fish Nozzle Tip For Women Shoes,2 UK, Light B07BSZSXSY Parent , XZGC Strap Sandals, Comfortable With Sexy Summer Slotted For Women Shoes,3 UK, Black B07BSZVQYC Parent , XZGC The Girl Sandals Slotted Tie Sexy High-Heeled Shoes Minimalist Exposed,2 UK, Light Brown B07BSZVQYW Parent
XZGC Summer Shoes Slotted Tie With Bold, Like Dew,4 UK, Women Sandals Black B07BSZXVWB Parent , in The Summer Sandals With Slotted For Bold and Sexy and Comfortable Women Shoes,5 UK, Dark Red B07BSZXVX2 ParentCross-Strap Sandals Flat-Bottomed Students Simple Summer Women Shoes,6 UK, Black B07BSZYZ3N ParentXZGC Women's Shoes and Sandals For Bold Word,6 UK, Summer Light Brown B B07BT11J5Y Parent
XZGC Sandals Female Mr Cross Strap Dew-Bold and Sexy High-Heel Shoes,6 UK, Pink B07BSZYZ44 Parent , XZGC Tie Ladies Sandals Are Comfortable With Sexy Women Shoes,3.5 UK, Black B07BT11NMM Parent , XZGC Summer Shoes Slotted Tie With Bold, Like Dew,5 UK, Women Sandals Black B07BT11Z1G Parent
XZGC Sandals Female Mr Cross Strap Dew-Bold and Sexy High-Heel Shoes,3.5 UK, Pink B07BT13W8H Parent , XZGC in The Summer Sandals With Slotted For Bold and Sexy and Comfortable Women Shoes,6 UK, Black B07BT13XJ9 Parent
XZGC in The Summer Sandals With Slotted For Bold and Sexy and Comfortable Women Shoes,3 UK, Light Brown B07BT15ZVC Parent , XZGC Tie Ladies Sandals Are Comfortable With Sexy Women Shoes,3.5 UK, Pink B07BT15R2X Parent , XZGC Sandals Summer Bow Tie Slot For Thick With High-Heeled Shoes of,2 UK, Black B07BT193GB Parent , XZGC Sandals Female Mr Cross Strap Dew-Bold and Sexy High-Heel Shoes,5 UK, Pink B07BT16RVG Parent , XZGC The Girl Sandals Slotted Tie Sexy High-Heeled Shoes Minimalist Exposed,3.5 UK, Light Brown B07BT1988J ParentXZGC Sandals Summer Bow Tie Slot For Thick With High-Heeled Shoes of,4 UK, Light Brown B07BT1987J ParentXZGC Summer Sandals Thick Flat Balcony and with Women's Shoes,3.5 UK, in Light Brown B07BT19979 ParentXZGC Sandals Summer Bow Tie Slot For Thick With High-Heeled Shoes of,6 UK, Black B07BT1P4M6 Parent
XZGC The Girl Sandals Slotted Tie Sexy High-Heeled Shoes Minimalist Exposed,3.5 UK, Light Purple B07BT19Q63 Parent , XZGC Coarse With Strap Sandals Sexy Women High-Heeled Shoes For Summer Word,5 UK, Black B07BT1GD1H Parent , XZGC Bold and Cross Strap Sandals Female Fish Mouth Sexy Summer Shoes,3.5 UK, Light Brown B07BT1Q3D8 Parent , Cross-Strap Sandals Flat-Bottomed Students Simple Summer Women Shoes,4 UK, Black B07BT1DKV7 ParentXZGC Slotted Tie Sandals Thick With Summer Terrace and,3 UK, Black Women's Shoes B07BT19Q61 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.