FICC
| Commodities
Oil, metals, and the wider commodity complex, analyzed from the global macro picture down to physical supply and demand.
Oil markets will continue to be buffeted by Russian overtures to OPEC suggesting a desire to orchestrate a production cut-back, while uncertainty over the Fed's next move keeps markets on edge.
The Fed will upset the rebalancing of oil markets if it misreads the current sell-off as weakness in oil demand.