Steno Signals #66: Buckle up for the energy crisis 2.0
Is the current energy crisis reminiscent of 2022? We compared the energy crisis 2.0 to the 1.0 crisis of 2021/2022 and díscuss the trading playbook in such a scenario. Enjoy (the crisis)!
Happy Sunday and welcome to our flagship editorial. Is there another major energy crisis in the making and how does it differ from the crisis in 2021/2022?
We have long held the view that the tightness in energy markets would lead global macro trends from one extreme to the other with relatively short 18-24 month cycles and here we are probably on the verge of another extreme again.
The impulse from input costs in necessities (read mainly energy costs) will dictate the cycle trends and after an outright landslide in input costs over the past 12 months, we are now edging higher fast again.
Here is everything you need to know in relation to that issue. Remember that you can always follow our live portfolio via this link (requires premium access).
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