Silver as an investment

Category Archives: Organization of Petroleum-Exporting Countries

Key Events In The Coming Week: FOMC Minutes, GDP, BOC, OPEC And More

The key highlights in the coming week are the Fed minutes, the Eurogroup meeting on Greece, the OPEC meeting and Bank of Canada rate decision. We also get GDP releases in the US, Eurozone, and UK, while a murder (or gaggle) of Fed speaker will highlight virtually every single day, starting with 4 today. Also […]

Selloff Accelerates As Trump Fears Mount: “The Market Will Revert To Much Higher Volatility”

European and Asian stocks slumped on Thursday following the worst one-day drop in US stocks in 8 months, while S&P futures tumbled to session lows, down 0.3% to 2,350 after initially posting a modest rebound, following a new Reuters report alleging that Trump campaign members communication with Russians on at least 18 occasions, and which […]

Euro Surges As Trump Fears Slam Dollar; Futures Poised For New Records

In a replica of Monday’s early trading, European shares are down, this time led by health-care stocks even as the Euro surges above 1.1050, the highest level since the US election. Asian equities rose, while S&P futures were unchanged although we expect the ramp to kick in any second, and take the NASDAQ to another […]

The Math Behind OPEC’s Revised Production Cut Still Does Not Work

“Whatever it takes.” Saudi Energy Minister Khalid al-Falih and Russia’s Energy Minister Alexander Novak That’s what Saudi Energy Minister Khalid al-Falih and his Russian counterpart Alexander Novak said in a statement overnight in Beijing they would do to reduce the global oil inventory overhang, using the immortal phrase coined by ECB’s Mario Draghi five years […]

Frontrunning: May 15

Oil Jumps Over Output Deal (BBG), Saudi Arabia, Russia Favor Extending Oil Cuts Through Next March (BBG) Trump Doctrine Confounds G-7 as Ministers Kick Can to Sicily (BBG) Senate GOP’s agenda is at a moment of reckoning with unpredictable Trump (WaPo) White House Races to Fill FBI Job (WSJ) Former Trump Employees Say He Taped […]

Oil Surges After Saudis, Russians Agree To 9 Month OPEC Output Cut Extension; US Futures Flat

In an otherwise quiet session in which European shares dropped, Asian equities rose and S&P500 futures were little changed, crude oil surged above $49 on high volume, after the Saudi and Russian energy ministers said in Beijing they favor extending the OPEC production cut for 9 months, though the end of Q1 2018. WTI rose […]

“Peak China”: Chinese Data Misses Across The Board As Housing Bubble Returns

Following months of warnings that China’s economy is slowing down as a result of not only a collapse in China’s credit impulse but also tighter monetary conditions, as well as rolling over loan growth which has pressured both CPI and PPI – i.e., the global “reflation trade” – as the following chart from Bloomberg’s David […]

US Oil Rig Count Rises For 17th Straight Week As Crude Production Nears Record Highs

For the 17th week in a row, the number of US oil rigs rose (by 9 to 712) but US gas rigs fell. *U.S. OIL RIG COUNT UP 9 TO 712 , BAKER HUGHES SAYS :BHI US *U.S. GAS RIG COUNT DOWN 1 TO 172 , BAKER HUGHES SAYS :BHI US Texas saw an additional […]

Markets All Too Quiet Ahead Of Inflation, Retail Sales Data

Asian stocks and S&P futures are both feeling the weather this morning, while European stocks are little changed as traders have decided to hold back until today’s key US CPI and retail sales data is released in under two hours. Commodities have posted another modest rebound, driven by a rise in metal prices that has […]

Europe, US Futures Slip Despite Brent Bouncing Back To $51

Asian stocks rose lifted by commodity names; European equities trade mostly lower but with little in the way of conviction or firm direction while the Italian banking index is at the highest level in a year following domestic earnings; S&P index futures are modestly in the red after the cash market closed at a record […]