With oil on the rise, what next for equity markets?
That’s the question KBW try to answer in a note out on Monday. The analysts look for correlations over the last 50 years between big (ten and 20 per cent quarter on quarter) WTI rises and changes in the S&P500 and the Keefe Bank Index.
The headline result is, um, choppy: the S&P500 was equally split between higher and lower quarter-over-quarter closes when the WTI rises 20 per cent (click to expand):
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