Research preview

The sudden executive order suspending a broad sanctions package against Russia creates a shock to global markets. For quantitative traders, the event is more than a political headline; it reshapes risk premia, liquidity conditions, and the relative value of many asset classes. This article links the macro‑political development to core concepts from a rigorous investment curriculum and shows how to translate the news into actionable models and checks. 1. Immediate Market Impact and the Role of the Bid‑Ask Spread When a major geopolitical risk is removed, the first price adjustment occurs in the most liquid venues. The bid‑ask spread is a direct measure of market friction....