Over an hour ago, the European Central Bank (ECB) wrapped up its latest policy meeting. The ECB’s Governing Council, in describing its plans for removing support measures for the economy this year, stuck with using these 3 key words:

  Oil markets will be closely monitoring these events on this final day of March:

This well-worn phrase is meant to go back to the early 1800s and is attributed to London financier Lord Rothschild which suggests that the start of a war is a good time to invest in the stock market. Conversely, the end of a war is a good time to sell.

Of course, global financial markets will continue monitoring the latest developments surrounding the Russia-Ukraine war, and whether Putin or the Western allies will escalate this crisis and darken the global economic outlook.