Market Watcher: Busy day for markets managing global panic

John Cairns of RMB looks at the performance of the market amid investor concerns about the rising global panic around Russia and Ukraine, the strength of commodities, and the state of the rand.

By Fifi Peters 24 Feb 2022 20:04

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AUTHOR PROFILE

Fifi Peters is an award-winning financial journalist with a career spanning over 10 years, having worked for the likes of Business Day and Financial Mail. She currently hosts CNBC Africa’s flagship market shows Power Lunch and Closing Bell. Peters has a special interest in African financial markets. She is also a seasoned MC and moderator with brands such as Vodacom.

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Sadly, the best trades of the day were buying the big Russian energy companies when they got slapped 45% early on.

Side bet : Goldman and Credit Suisse bought bucket loads of volatile stocks and bonds today and banked their annual bonuses. Why? They had forced sale contracts on the same equities with the oligarchs that borrowed money from them against those equities. Margin calls today would be big