Melt-up ignores the Houthis

Wednesday, 20 December 2023

I have repeatedly made the point recently that the only immediate threat to the market melt-up is oil. Now we have Houthis running disruption operations in the Red Sea.

Is it time to panic? Goldman with the note.

We provide early thoughts on the disruption to energy flows through the Bab-El-Mandeb strait at the southern end of the Red Sea.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.