Ukraine: elephant in the commodities market room

In periods of low interest rates, high stock market prices and persistent inflation, the usually volatile commodity markets are once again in the sights of investors. This is also the case now, but this time there is another complicating factor: 100,000 Russian soldiers on the border with Ukraine, which the US president expects to invade the neighbouring country.

Green transition leads to higher inflation

In the medium term, the green transition may further fuel inflationary risks, according to ECB board member Isabel Schnabel in an interview with the Financial Times last weekend. Rising energy prices, she said, may require the ECB to do more to hold back increases. She urged portfolios to increase their investments into real assets.