Reuters
Updated 4 min read
NEW YORK (Reuters) -Following are reactions from world leaders to the summit on Friday between U.S. President Donald Trump and Russian President Vladimir Putin, which did not resolve Moscow’s war in Ukraine.
HELIMA CROFT, GLOBAL HEAD OF COMMODITY STRATEGY AT RBC CAPITAL MARKETS, NEW YORK:
“It seems to be the scenario that we anticipated in our note. Soundbites signaling diplomatic progress but few concrete deal specifics. We will be watching to see whether the ‘too be continued’ outcome is enough to table the secondary sanctions on India for continuing to import Russian oil. Certainly will fall short of anything that will convince the Europeans to consider vacating their Russian energy sanctions.”
CAROL SCHLEIF, CHIEF MARKET STRATEGIST, BMO PRIVATE WEALTH, MINNEAPOLIS:
“The only news was absolutely no news out of it. Not sure there will be any market impactful portions – geopolitical issues in general do not tend to preoccupy market attention for very long if at all.”
“Markets are at new highs despite this conflict going on for three years. Markets care more about consumers, inflation and commentary from Wyoming next week.”
ERIC TEAL, CHIEF INVESTMENT OFFICER, COMERICA, CHARLOTTE, NORTH CAROLINA:
“The fact that there were no economic sanctions is a positive and markets should breathe a sigh of relief, but it doesn’t appear as though a deal is in hand.”
“If anything, we see opportunity in the energy sector, as oil prices are at pretty low levels here and the prospect of sanctions on oil did not bear out. There could be a relief rally and that would be an opportunity to invest in energy as we head into higher seasonal demands and economic growth beginning to re-accelerate.”
“Gold and precious metals are likely to sell off because of being an asset class good for safety. Given concerns about inflation, they are a good buying point as well if any weakness.”
EUGENE EPSTEIN, HEAD OF TRADING AND STRUCTURED PRODUCTS, NORTH AMERICA, MONEYCORP, NEW JERSEY:
“I don’t think anybody expected it to be particularly specific or substantive. It’s essentially a first step towards potentially something more. They both kind of said everything diplomatically. But it’s more about the significance of the meeting as a whole, as opposed to the content of what they’re saying.”
“Again, I don’t think anybody really expected them to suddenly within a couple of hours come up with a very specific set of plans or any kind of blueprint to something. It basically was just showing their willingness to have continued talks to arrive at a conclusion that is beneficial for all parties. And I think this is just the first steps, and many more to come.”
