The Financial Times – Opec risks handing US shale drillers a gift with cut Opec walks tightrope as pressure to detail cut in November meeting grows Has US oil production hit bottom? Answering yes is a risky call. After all, oil markets are still depressed. Closely followed forecasters including the International Energy Agency and Opec believe… Continue reading OPEC
Bloomberg Business – Barry Ritholtz: This Bull Market Has Room to Run Long secular bull markets occur for a specific reason: waves of industrial, technological and economic progress make their way into employees’ wages, consumers’ pockets and corporate profits. Improving standards of living are reflected in the psychology of an era. Not surprisingly, markets do well,… Continue reading Bullish Talk
Bloomberg.com – One Big Canadian Investor Dumps 90% of U.S. Long-Bond Holdings Ahead of Election Fairfax cash and short-term investments now total $10 billion Fairfax Financial Holdings Ltd., the Canadian holding company run by value investor Prem Watsa, sold almost all of its long-dated U.S. Treasuries amid global uncertainty, including the outcome of the U.S. presidential… Continue reading Bond Hate
CNBC – Peter Boockvar: The market is reaching a ‘major tipping point’ If there is one thing that is obvious about the relationship between market behavior and the upcoming presidential election, it is that investors clearly believe that a Hillary Clinton victory will be bullish for stocks and other risk assets and a win by… Continue reading The Market’s Tipping Point
The Wall Street Journal – Did Wall Street Banks Suddenly Turn Into Better Traders? A rebound in revenue is occurring across the board When U.S. banks reported big increases in trading revenue last month, there were two possible explanations: Either the business was genuinely improving or the Wall Street firms had simply stolen market share from beleaguered European… Continue reading Wall Street
Bloomberg- Payrolls in U.S. Rise by 161,000 in October as Wages Accelerate U.S. jobs continued to rise at a steady pace in October and wage gains accelerated, signs that the labor market and economy made steady progress at the start of the fourth quarter. Payrolls climbed by 161,000 last month following a 191,000 gain in… Continue reading Employment In Pictures
<Click on chart for larger image> <Click on chart for larger image> <Click on chart for larger image> <Click on chart for larger image> Comment All the charts above. and more, are updated every three minutes in the right-hand column. If you click on any market it will take you to the predictit.org site… Continue reading Election Update
<Click on graphic to view video> Comment Jim Bianco was on CNBC yesterday with Rick Santelli. To view the interview, click on the image above. To view the CNBC Pro (subscription required) portion of the interview, click here. To view any of our recent interviews, click here. Fortune – The Federal Reserve Shows It’s Influenced by… Continue reading Talking Markets
The Economist – A turning-point? The deflationary theme in financial markets was overdue for correction EVERYONE wants to spot the moment when markets change trend. By riding one of the great bull markets—the rally in equities from 1982 onwards, for example—or avoiding a crippling bear market like that of 2007-08, fortunes can be made, or saved.… Continue reading Revisiting The Stock/Bond Relationship
The Telegraph (UK) – Prospect of early general election increases after High Court rules Government cannot trigger Article 50 without parliamentary approval The High Court has ruled that the Government does not have power to trigger Article 50 without parliamentary approval and a vote from MPs. Campaigners have won their battle over Theresa May’s decision to use the… Continue reading BRexit
The Economist – Permian hyperbole A seductive myth is in the making about the “Saudi Arabia” of Texas The Permian has many layers of oil-bearing “stacked” shale which, Mr Sheffield says, has the same sort of recoverable-resource potential as Saudi Arabia’s Ghawar. But that is using the term “resources”, unrelated to the cost of extraction. The… Continue reading The Saudi Arabia Of Texas