I saw a UFO was the 2006 hit song by Australian Electro-pop outfit Sneaky Sound. Will geopolitics prove to be the UFO for markets in 2017? Not if you believe moves yesterday with only small changes in yields, equities and currencies, while the VIX remains at a low 13.8. The oil price was the standout performer with WTI oil up 1.6% to $53.10 a barrel while Brent reached $55.99 after having risen for six-consecutive days. Although geopolitical tensions have played a role, yesterday’s moves were driven more by an outage at Libya’s largest oil field and comments from Russia that it was looking to extend the OPEC-lend oil production cuts. Russia’s Deputy PM was quoted last week wanting the oil price in a $55-60 a barrel range.