Holdsworth discusses the impact of the sanctions applied by the West as well as the effect on key commodities. He also looks at US equities, the outlook for rates and last week’s Budget speech. Read more here.

Watch the video: What Russia means for markets

Listen to the podcast: No Ordinary Wednesday

Holdsworth also joined Jeremy Maggs on Investec’s No Ordinary Wednesday podcast to discuss the implications of the Russia-Ukraine conflict on South Africa and how investors are reacting.

Callum Macpherson, Head of commodities for Investec UK, also gives commentary on the impact of the war on the oil price which jumped to new multiyear highs this week.

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