BalaMasa Womens Buckle Non-Marking No-Closure Urethane Boots ABL10540 B078YY9HQK ParentAdeeSu Womens Chunky Heels Platform Velvet Lining Leather Boots SXC02659 B078YYB2KR Parent
AdeeSu Womens Platform Velvet Lining Fur Collar Microsuede Boots SXC02668 B078YYB6SL Parent , AdeeSu Womens Chunky Heels Pointed-Toe Velvet Lining Microsuede Boots SXC02674 B078ZYT259 Parent , AdeeSu Womens Wedges Platform Fur Collar Heighten Inside Leather Boots SXC02684 B078ZZ36C1 Parent , AdeeSu Womens Chunky Heels Platform Velvet Lining Microsuede Boots SXC02671 B078ZZ6HN9 Parent , AdeeSu Womens Chunky Heels Pointed-Toe Velvet Lining Microsuede Boots SXC02672 B078ZZ36C2 ParentAdeeSu Womens Bandage Chunky Heels Platform Velvet Lining Leather Boots SXC02680 B078ZZ9NQ3 Parent
AdeeSu Womens Chunky Heels Pointed-Toe Velvet Lining Microsuede Boots SXC02677 B078ZZ6HXX Parent , AdeeSu Womens Chunky Heels Velvet Lining Round-Toe Microsuede Boots SXC02676 B078ZZC3NK Parent , AdeeSu Womens Wedges Platform Velvet Lining Leather Boots SXC02679 B078ZZJ3T9 Parent , BalaMasa Womens Mid-Calf Bandage Zipper Patent Leather Urethane Boots ABL10563 B07915VTN8 Parent
BalaMasa Womens Solid Mid-Calf Zipper Urethane Boots ABL10554 B07915XMWK Parent , AdeeSu Womens Chunky Heels Velvet Lining Round-Toe Suede Boots SXC02675 B078ZZCLFC Parent , BalaMasa Womens Ankle-High Contrast-Stitching No-Closure Suede Boots ABL10561 B07915YKKR Parent , AN A&N Womens Boots High-Top No-Closure High-Heels Solid Warm Lining Fashion Smooth Leather Urethane Contrast-Stitching... B07917BF9D Parent , BalaMasa Womens Assorted Color Mid-Calf Chunky Heels Urethane Boots ABL10562 B079162LHF ParentBalaMasa Womens Mid-Calf Studded Fringe Zip Urethane Boots ABL10547 B0791654TG Parent
BalaMasa Womens Retro Ankle-High Buttons Bandage Urethane Boots ABL10552 B07915ZX7Q Parent , BalaMasa Womens Spikes Stilettos Assorted Color Ankle-High Polyester Boots ABL10551 B079163Q1Q ParentBalaMasa Womens Solid Knee-High Zip Urethane Boots ABL10557 B07916D3P2 ParentBalaMasa Womens Zipper Bandage Ankle-High Urethane Boots ABL10555 B079168S6C ParentBalaMasa Womens Spikes Stilettos Ruffles Ankle-High Urethane Boots ABL10550 B07916N913 ParentAN A&N Womens Boots High-Top Zip Low-Heel Solid Warm Lining Rubber Waterproof Road Smooth Leather Manmade Firm-Ground... B07917FBF7 ParentA&N Womens Boots Closed-Toe Zip Waterproof Warm Lining Manmade Nubuck Bridal Urethane Nubuck Pointed-Toe Urethane... B0791788JN Parent
AN A&N Womens Boots Closed-Toe Zip High-Heel Solid Warm Lining Rubber Waterproof Low-Top All-Weather Glitter Urethane... B07917BJQF Parent , AN A&N Womens Boots Closed-Toe Zip Adjustable-Strap Heeled Warm Lining Manmade Not_Water_Resistant Nubuck Urethane... B07917BT2T Parent , A&N Womens Boots Closed-Toe Zip High-Heel Warm Lining Road Smooth Leather Zipper Bootie Dress Round-Toe Urethane... B07917C451 Parent
BalaMasa Womens Bandage Ankle-High Solid Pointed-Toe Urethane Boots ABL10556 B07916FGP9 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.