Russia's Putin Says We Will Extend Black Sea Grain Deal When Promises Will Be Fulfilled
Portfolio Pulse from Happy Mohamed
Russian President Vladimir Putin has stated that the Black Sea grain deal will be extended once promises are made under the deal are fulfilled. The specifics of the promises or the impact on grain prices were not detailed.
July 13, 2023 | 4:38 pm
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NEUTRAL IMPACT
The Black Sea grain deal may indirectly affect SPY as it tracks a market-cap-weighted index of US large- and mid-cap stocks. Any significant changes in grain prices could impact the agriculture sector and thus the index.
The SPY ETF tracks a broad range of US stocks. While it does not directly invest in grain, changes in grain prices can affect the agriculture sector, which is part of the index. However, the impact is likely to be indirect and moderate.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The Black Sea grain deal may indirectly affect VGK as it tracks an index of stocks from developed European countries. Any significant changes in grain prices could impact the agriculture sector and thus the index.
The VGK ETF tracks a broad range of European stocks. While it does not directly invest in grain, changes in grain prices can affect the agriculture sector, which is part of the index. However, the impact is likely to be indirect and moderate.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50