\u010cl\u00e1nek si tak\u00e9 m\u016f\u017eete poslechnout v\u00a0audioverzi.<\/p>\n
\u010ctete uk\u00e1zku z\u00a0newsletteru Parket, ve kter\u00e9m Luk\u00e1\u0161 Vo\u017een\u00edlek p\u0159in\u00e1\u0161\u00ed ty nejd\u016fle\u017eit\u011bj\u0161\u00ed novinky ze z\u00e1kulis\u00ed finan\u010dn\u00edch trh\u016f. Pokud v\u00e1s zaj\u00edm\u00e1 v\u00fdvoj burzovn\u00edch index\u016f, cen komodit \u010di m\u011bnov\u00fdch kurz\u016f, p\u0159ihlaste se k\u00a0odb\u011bru<\/a> a\u00a0cel\u00fd newsletter budete ka\u017ed\u00e9 pond\u011bl\u00ed dost\u00e1vat do sv\u00e9 e-mailov\u00e9 schr\u00e1nky.<\/p>\n Neobvykle na\u010dasovan\u00e9 obchody, kter\u00e9 23.\u00a0b\u0159ezna p\u0159edch\u00e1zely p\u0159\u00edsp\u011bvku americk\u00e9ho prezidenta Donalda Trumpa na s\u00edti Truth Social o \u201evelmi dobr\u00fdch a\u00a0produktivn\u00edch\u201c rozhovorech s\u00a0\u00cdr\u00e1nem, vyvolaly ot\u00e1zky, zda n\u011bkdo nemohl m\u00edt k\u00a0dispozici neve\u0159ejn\u00e9 informace.<\/p>\n Jak informoval list Financial Times, zhruba 15\u00a0minut p\u0159ed zve\u0159ejn\u011bn\u00edm Trumpova sd\u011blen\u00ed do\u0161lo k\u00a0mimo\u0159\u00e1dn\u011b velk\u00fdm s\u00e1zk\u00e1m na pokles ceny ropy v\u00a0objemu p\u0159esahuj\u00edc\u00edm p\u016fl miliardy dolar\u016f. Podle dat spole\u010dnosti LSEG, kter\u00e1 sleduje finan\u010dn\u00ed trhy, se mezi 11:49\u00a0a\u00a011:50\u00a0SE\u010c v\u00fdrazn\u011b zv\u00fd\u0161il objem prodejn\u00edch kontrakt\u016f na ropu Brent a\u00a0WTI.<\/p>\n Kr\u00e1tce nato, ve 12:05\u00a0SE\u010c, Trump uvedl, \u017ee s\u00a0\u00cdr\u00e1nem prob\u00edhaj\u00ed \u201eproduktivn\u00ed\u201c rozhovory, a\u00a0z\u00e1rove\u0148 ozn\u00e1mil p\u011btidenn\u00ed odklad pl\u00e1novan\u00fdch americk\u00fdch \u00fader\u016f na \u00edr\u00e1nskou energetickou infrastrukturu. Ropn\u00fd trh reagoval bezprost\u0159edn\u011b prudk\u00fdm poklesem cen, p\u0159i\u010dem\u017e podle agentury Reuters b\u011bhem jedin\u00e9 minuty zm\u011bnily majitele kontrakty odpov\u00eddaj\u00edc\u00ed zhruba 13\u00a0milion\u016fm barel\u016f.<\/p>\n Ot\u00e1zky v\u0161ak nevyvolaly jen obchody s\u00a0ropou. Podobn\u011b podez\u0159el\u00fd byl podle n\u011bkter\u00fdch politik\u016f i\u00a0pohyb na akciov\u00e9m trhu, kter\u00fd po Trumpov\u011b ozn\u00e1men\u00ed rovn\u011b\u017e prudce reagoval r\u016fstem. Demokratick\u00fd sen\u00e1tor Chris Murphy upozornil, \u017ee n\u011bkolik minut p\u0159ed prezidentov\u00fdm sd\u011blen\u00edm do\u0161lo k\u00a0mimo\u0159\u00e1dn\u011b velk\u00e9mu n\u00e1kupu futures kontrakt\u016f na index S&P 500\u00a0v\u00a0objemu okolo 1,5\u00a0miliardy dolar\u016f.<\/p>\n Na s\u00edti X v\u00a0t\u00e9to souvislosti polo\u017eil ot\u00e1zku<\/a>, kdo za obchodem st\u00e1l, a\u00a0nazna\u010dil, \u017ee mohlo j\u00edt o\u00a0dal\u0161\u00ed p\u0159\u00edpad zneu\u017eit\u00ed neve\u0159ejn\u00fdch informac\u00ed. \u201eTohle je korupce. Naprosto \u0161okuj\u00edc\u00ed korupce,\u201c napsal.<\/p>\n Co bud\u00ed nejv\u011bt\u0161\u00ed podez\u0159en\u00ed<\/p>\n Na finan\u010dn\u00edch trz\u00edch nen\u00ed neobvykl\u00e9, \u017ee velc\u00ed hr\u00e1\u010di uzav\u00edraj\u00ed rozs\u00e1hl\u00e9 pozice. V\u00a0tomto p\u0159\u00edpad\u011b v\u0161ak pozornost bud\u00ed p\u0159edev\u0161\u00edm p\u0159esn\u00e9 na\u010dasov\u00e1n\u00ed. Obchody prob\u011bhly t\u011bsn\u011b p\u0159ed zve\u0159ejn\u011bn\u00edm politicky citliv\u00e9 informace, kter\u00e1 m\u011bla p\u0159\u00edm\u00fd dopad na cenu komodity.<\/p>\n \u201eJe t\u011b\u017ek\u00e9 prok\u00e1zat p\u0159\u00edmou souvislost, ale \u010dlov\u011bk si mus\u00ed kl\u00e1st ot\u00e1zku, kdo by 15\u00a0minut p\u0159ed Trumpov\u00fdm p\u0159\u00edsp\u011bvkem prod\u00e1val tak agresivn\u011b,\u201c \u0159ekl pro Financial Times anonymn\u011b citovan\u00fd strat\u00e9g z\u00a0americk\u00e9 brokersk\u00e9 spole\u010dnosti.<\/p>\n List z\u00e1rove\u0148 uvedl, \u017ee podle jednoho obchodn\u00edka z\u00a0velk\u00e9ho hedgeov\u00e9ho fondu si energeti\u010dt\u00ed konzultanti v\u00a0posledn\u00ed dob\u011b v\u0161imli n\u011bkolika velk\u00fdch obchod\u016f, kter\u00e9 p\u016fsobily nezvykle na\u010dasovan\u011b. Jin\u00fd portfolio mana\u017eer pak \u0159ekl, \u017ee s\u00e9rie velk\u00fdch a\u00a0dob\u0159e na\u010dasovan\u00fdch transakc\u00ed vyvolala mezi investory zna\u010dnou m\u00edru frustrace.<\/p>\n Is this the best timed trade of 2026?<\/p>\n At 6:50 AM ET today, $1.5 BILLION in notional value worth of S&P 500 futures contracts were bought.<\/p>\n This trade was so large it sent the entire index +0.3% higher that minute.<\/p>\n Then, 14 minutes later at 7:04 AM ET, President Trump announced\u2026 pic.twitter.com\/zFdZ1sQxeq<\/a><\/p>\n \u2014 The Kobeissi Letter (@KobeissiLetter) March 23, 2026<\/a><\/p>\n \u201eM\u016fj instinkt mi po p\u011btadvaceti letech sledov\u00e1n\u00ed trh\u016f \u0159\u00edk\u00e1, \u017ee tohle je opravdu neobvykl\u00e9,\u201c uvedl. \u201eJe pond\u011bl\u00ed r\u00e1no, nejsou na programu \u017e\u00e1dn\u00e1 d\u016fle\u017eit\u00e1 data ani vystoupen\u00ed p\u0159edstavitel\u016f Fedu, na kter\u00e1 by m\u011blo smysl s\u00e1zet dop\u0159edu. Na den bez zjevn\u00e9ho tr\u017en\u00edho rizika je to nezvykle velk\u00fd obchod\u2026 N\u011bkdo pr\u00e1v\u011b hodn\u011b zbohatl,\u201c cituje ho britsk\u00fd den\u00edk.<\/p>\n Nen\u00ed zat\u00edm jasn\u00e9, kdo za t\u011bmito transakcemi st\u00e1l, a\u00a0regula\u010dn\u00ed org\u00e1ny jako americk\u00e1 Komise pro cenn\u00e9 pap\u00edry (SEC) \u010di Komise pro obchodov\u00e1n\u00ed s\u00a0komoditn\u00edmi futures (CFTC) se k\u00a0v\u011bci bezprost\u0159edn\u011b nevyj\u00e1d\u0159ily. B\u00edl\u00fd d\u016fm mezit\u00edm jak\u00e9koli n\u00e1znaky, \u017ee by p\u0159edstavitel\u00e9 administrativy mohli nez\u00e1konn\u011b profitovat z\u00a0neve\u0159ejn\u00fdch informac\u00ed, odm\u00edtl jako nepodlo\u017een\u00e9. Cel\u00fd p\u0159\u00edpad by mohl zapadnout do \u0161ir\u0161\u00edho kontextu mimo\u0159\u00e1dn\u011b rozkol\u00edsan\u00e9ho ropn\u00e9ho trhu.<\/p>\n Trh u\u017e byl p\u0159ed ozn\u00e1men\u00edm nerv\u00f3zn\u00ed<\/p>\n Nap\u011bt\u00ed na Bl\u00edzk\u00e9m v\u00fdchod\u011b a\u00a0naru\u0161en\u00ed dod\u00e1vek v\u00a0oblasti Hormuzsk\u00e9ho pr\u016flivu vedly v\u00a0posledn\u00edch t\u00fddnech k\u00a0v\u00fdrazn\u00e9mu n\u00e1r\u016fstu obchodn\u00edch objem\u016f i\u00a0cenov\u00fdch v\u00fdkyv\u016f. Mezin\u00e1rodn\u00ed energetick\u00e1 agentura (IEA) dokonce ozna\u010dila sou\u010dasn\u00e9 v\u00fdpadky dod\u00e1vek za hor\u0161\u00ed ne\u017e oba ropn\u00e9 \u0161oky ze 70.\u00a0let dohromady. Pr\u00e1v\u011b vysok\u00e1 volatilita m\u016f\u017ee b\u00fdt jedn\u00edm z\u00a0vysv\u011btlen\u00ed, pro\u010d se na trhu objevuj\u00ed velk\u00e9 a\u00a0rychl\u00e9 s\u00e1zky.<\/p>\n Tomu odpov\u00edd\u00e1 i\u00a0opatrn\u011bj\u0161\u00ed pohled \u010d\u00e1sti analytik\u016f. \u201eJedn\u00e1 se o\u00a0v\u011bt\u0161\u00ed objem, ne\u017e bych v\u00a0tuto denn\u00ed dobu o\u010dek\u00e1val, ale z\u00e1rove\u0148 nen\u00ed nijak p\u0159ehnan\u011b vysok\u00fd. Je pro m\u011b trochu t\u011b\u017ek\u00e9 si z\u00a0toho ud\u011blat jasn\u00fd obr\u00e1zek,\u201c poznamenal \u0161\u00e9f deriv\u00e1t\u016f poradensk\u00e9 spole\u010dnosti Energy Aspects Tim Skirrow.<\/p>\n Z\u00e1rove\u0148 v\u0161ak nejde o\u00a0prvn\u00ed situaci, kdy se kolem krok\u016f Donalda Trumpa objevuj\u00ed spekulace o\u00a0mo\u017en\u00e9m zneu\u017eit\u00ed neve\u0159ejn\u00fdch informac\u00ed. Jak p\u0159ipomn\u011bl nap\u0159\u00edklad den\u00edk The Wall Street Journal, podobn\u011b podez\u0159el\u00e9 pohyby na trz\u00edch se objevily u\u017e loni v\u00a0dubnu v\u00a0souvislosti s\u00a0ozn\u00e1men\u00edm nov\u00fdch celn\u00edch tarif\u016f.<\/p>\n Investigativn\u00ed server ProPublica tehdy upozornil, \u017ee n\u011bkte\u0159\u00ed vl\u00e1dn\u00ed \u010dinitel\u00e9 prod\u00e1vali akcie t\u011bsn\u011b p\u0159ed zve\u0159ejn\u011bn\u00edm opat\u0159en\u00ed, kter\u00e1 n\u00e1sledn\u011b p\u0159isp\u011bla k\u00a0poklesu trh\u016f. Dal\u0161\u00ed kontroverzi vyvolaly i\u00a0situace, kdy Trump ve\u0159ejn\u011b komentoval v\u00fdvoj akciov\u00e9ho trhu nebo nazna\u010doval investi\u010dn\u00ed p\u0159\u00edle\u017eitosti kr\u00e1tce p\u0159ed zm\u011bnami politiky.<\/p>\n Nen\u00ed to poprv\u00e9<\/p>\n Tyto v\u00fdroky samy o\u00a0sob\u011b nejsou nez\u00e1konn\u00e9, ale podle odborn\u00edk\u016f vytv\u00e1\u0159ej\u00ed prost\u0159ed\u00ed, v\u00a0n\u011bm\u017e mohou m\u00edt n\u011bkte\u0159\u00ed investo\u0159i v\u00fdhodu, pokud maj\u00ed lep\u0161\u00ed p\u0159\u00edstup k\u00a0informac\u00edm nebo dok\u00e1\u017eou spr\u00e1vn\u011b interpretovat politick\u00e9 sign\u00e1ly.<\/p>\n U\u017e b\u011bhem jeho prvn\u00edho prezidentsk\u00e9ho obdob\u00ed v\u00a0letech 2017\u00a0a\u017e 2020\u00a0se v\u017eil pojem \u201eTrumpovy tweety h\u00fdbou trhy\u201c. Investo\u0159i tehdy bedliv\u011b sledovali jeho vyj\u00e1d\u0159en\u00ed k\u00a0obchodn\u00ed v\u00e1lce s\u00a0\u010c\u00ednou \u010di k\u00a0dal\u0161\u00edm geopolitick\u00fdm ot\u00e1zk\u00e1m, proto\u017ee i\u00a0kr\u00e1tk\u00fd koment\u00e1\u0159 mohl b\u011bhem minut zm\u011bnit hodnotu miliard dolar\u016f na burz\u00e1ch.<\/p>\n P\u0159esto je d\u016fle\u017eit\u00e9 zd\u016fraznit, \u017ee \u017e\u00e1dn\u00fd d\u016fkaz o\u00a0insider tradingu, tedy obchodov\u00e1n\u00ed na z\u00e1klad\u011b neve\u0159ejn\u00fdch informac\u00ed, zat\u00edm zve\u0159ejn\u011bn nebyl. Finan\u010dn\u00ed trhy jsou slo\u017eit\u00e9 a\u00a0velc\u00ed investo\u0159i \u010dasto \u010din\u00ed rozhodnut\u00ed na z\u00e1klad\u011b vlastn\u00edch anal\u00fdz, zku\u0161enost\u00ed a\u00a0odhad\u016f. V\u00a0prost\u0159ed\u00ed zv\u00fd\u0161en\u00e9 nejistoty tak mohou i\u00a0spr\u00e1vn\u011b na\u010dasovan\u00e9 obchody p\u016fsobit podez\u0159ele, ani\u017e by nutn\u011b poru\u0161ovaly z\u00e1kon.<\/p>\n V pln\u00e9 verzi newsletteru Parket v\u017edy najdete i\u00a0souhrn nejd\u016fle\u017eit\u011bj\u0161\u00edch zpr\u00e1v z\u00a0oblasti akciov\u00fdch trh\u016f a\u00a0makroekonomick\u00fdch trend\u016f, investi\u010dn\u00ed tipy odborn\u00edk\u016f nebo novinky z\u00a0pra\u017esk\u00e9 burzy. P\u0159ihlaste se k\u00a0odb\u011bru<\/a>, aby v\u00e1m nic d\u016fle\u017eit\u00e9ho neuniklo.<\/p>\n