Morning Call Morning Call 3/31/26
Mar 31, 2026
Alex Darden, EQT Partners infrastructure chief, offers concise views on energy infrastructure, AI-driven power demand, and regional energy security. Jeff Sonnenfeld, Yale leadership scholar and author, discusses leadership tactics and political strategy. They dive into oil market risks, supply chokepoints, renewables investment, and how leadership shapes responses to geopolitical shocks.
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Europe's Markets Weakened Because Energy Imports Amplified The Shock
- Europe suffered more from the Iran war because of energy import dependence, dragging the Stoxx 600 to its worst month since March 2020.
- UK natural gas and Dutch gas spiked, raising inflation and rate-hike fears across the region.
Buy Selectively Into Oversold Names
- View the market opportunistically and pick oversold sectors with intact trends rather than sell broadly.
- Ross Mayfield suggests targeting names 'thrown out with the bathwater' as earnings momentum and fiscal tailwinds remain.
Trump Market Is Driven By Deliberate Narrative Management
- Jeffrey Sonnenfeld argues Trump's communications are strategic, not accidental, shaping markets by managing expectations and information flow.
- He calls it a 'Trump market' where narrative timing — weekend bad news, Monday lifts — influences investor reaction.
