For a brief moment midweek, Vladimir Putin went full Leeroy Jenkins... {video} But by the end of the week (during which many bloviated that Putin was potentially starting WW3), stocks were higher, Fed rate-hike trajectory had shifted hawkishly, oil was unchanged, gold was flat, safe-haven Treasuries were sold, cryptos were lower, and Biden approval ratings were higher. It seems like the ultimate 'bad news is good news' example - but as we noted in stocks (and applies to many other markets), the world and his pet rabbit went into this week hedged-and-wedged, and unwinding/monetizing those hedges sparked a virtuous ... (full story)