Ol’ Man River, that Ol’ Man River He must know somethin’ but he don’t say nothin’ He just keeps rollin’, he keeps on rollin’ along. Just like gold, which keeps rolling along, from West to East. South African headquartered multinational mining company Anglo-American was taken out and beaten with an ugly stick in London on…
One month ago when oil was attempting another break out above $50, we wrote that the black gold had officially reached its “tipping point” when as we noted China had finally reached the limits of its onshore oil storage capacity. This followed rather dire warnings by both us earlier in the year… … and Goldman more recently, that…
The illiquid trading of December is already well in evidence – and we haven’t even reached the bad part yet. One we are past the CPI report and the Fed meeting, there will be a few days where serious traders are squaring up based on what they now believe after those data points. After that,…
Now that Kinder Morgan (KMI) has come out with a massive dividend cut, I think it will get harder to ignore that this isn’t just about crude oil prices and the death of “transitory.” There is a financial element here that is perhaps even more important. Kinder Morgan Inc., the biggest North American oil pipeline operator,…
The Poison of Central Planning As is well known, central banks around the world have deployed a range of “unconventional policies” in recent years, ranging from imposing zero to negative interest rates, to outright money printing (QE). Photo via americanpatriotdaily.com We have seen a number of people argue that “QE” does not really involve “money…
The latest JOLTS report (Job Openings and Labor Turnover Summary), data through October, is now available. The first chart below shows four of the headline components of the overall series, which the BLS began tracking in December 2000. The time frame is quite limited compared to the main BLS data series in the monthly employment report, many…
Baker Hughes (BHI) delivered Q3 revenue of $3.79 billion, which hit analysts’ target on the button. After the company reported a sequential decline in revenue of 31% in Q1, I have been one of Baker Hughes’ biggest detractors. However, things may be looking up. I had the following takeaways on the quarter: North America Is…
Podcast: Play in new window | Play in new window (Duration: 13:16 — 6.1MB) DOW – 162 = 17,568 SPX – 13 = 2063 NAS – 3 = 5098 10 YR YLD + .02 = 2.24% OIL – .08 = 37.57 GOLD + 3.40 = 1075.60 Back to back triple digit losses for the Dow and much of the…
Over the past year, while the U.S. economy has continually missed expectations, Federal Reserve Chairwoman Janet Yellen has assured all who could stay awake during her press conferences that it was strong enough to withstand tighter monetary policy. In delivering months of mildly tough talk (with nothing in the way of action), Yellen began stressing…
During the session on Wednesday, we have Crude Oil Inventories coming out, as well as the Unemployment numbers coming out of Australia. The Royal Bank of New Zealand has an interest rate announcement coming out, and more importantly a statement. With this, we could have quite a bit of volatility in the markets today. 1…
