Prices

Biden's Federal Land Lease Ban To Send Oil Prices Higher: Goldman

Oil stocks tumbled following yesterday’s one-two punch of Biden energy news, when first we learned that the Interior Department enacted a 60-day moratorium on issuing oil and gas leases that affects all federal lands, minerals, and waters, which was followed by news that Biden was set to fully suspend the sale of oil and gas…

Steel Prices Are Exploding To Record Highs

One of our readers writes in that a client just got a letter from US Steel: “Dear valued client, effective immediately price of “seamless steel”  has gone from $900 to $1350 per net ton.” Yes, a 33% price increase. This is what the Fed would call “inflation” if only the Fed measures rising prices correctly….

China Imports Of Corn, Wheat Hit Record High Amid Soaring Food Prices

On the same day that China published a much stronger than expected (if largely laughable as we first noted and Michael Pettis subsequently confirmed) GDP print, making China the only major economy to grow in the “year of covid”, China customs data showed that grains imports soared to record highs in 2020 after tight domestic…

Chinese Lockdowns Trigger "Chaos And Panic" At Grocery Stores As Prices Soar 50%

China’s battle with increasing coronavirus caseloads hitting ten-month highs has undoubtedly clouded the economic recovery while officials have lockdown more than 28 million people across multiple municipalities, reported Reuters.  Hebei officials have put three cities – Shijiazhuang, Xingtai, and Langfang – into lockdowns last week to mitigate the virus from spreading further. Beijing authorities expanded…

Beige Book Finds Prices Rising Everywhere

One month after the November Beige Book toed the “modest recovery” party line with most of the Fed’s 12 districts characterizing economic expansion as the trite “modest or moderate”, even as four districts described “little or no growth” while five narratives noted that activity remained below pre-pandemic levels for at least some sectors, the economy…

Natgas Prices In Asia And Europe Sky-Rocket Amid Deep Freeze 

The price of LNG reached unprecedented lows in the spring of 2020; but, as OilPrice’s Venand Meliksetian points out, a year later, the revitalization of the market is a fact. Prices of the supercooled fuel in especially Asia have reached astronomic heights due to a combination of factors.  The most important LNG buyers-markets are in…

Amid Soaring Food Prices, Vietnam And China Buy Indian Rice For First Time In Decades

By Tyler Durden One month ago, we reported that SocGen’s bearish analyst Albert Edwards, who is traditionally well ahead of the curve, looked at charts of soaring food prices and was starting to “panic.” Edwards’ research report concluded by urging his readers to “keep a very close eye as to whether we see a repeat…

Amid Soaring Food Prices, Vietnam And China Buy Indian Rice For First Time In Decades

One month ago, we reported that SocGen’s bearish analyst Albert Edwards, who is traditionally well ahead of the curve, looked at charts of soaring food prices and was starting to “panic.” Edwards’ research report concluded by urging his readers to “keep a very close eye as to whether we see a repeat of the 2010/11…

America's Hospitals Prepare To Publish Prices On More Than 300 Medical Procedures For 1st Time

President Trump’s health-care policy ambitions didn’t receive much attention from the mainstream media, but as we head into the new year, some of his market-based reforms are starting to become reality. One of the most important is a directive requiring the nation’s biggest hospital chains to publish the rates they’ve agreed to charge various insurers….

Pfizer, GSK & Others Quietly Hike Prices On 100s Of Drugs

With just hours to go until the new year, Reuters reports that a group of the world’s largest drug companies is preparing to hike drug prices, defying President Trump to issue a last-minute rebuke, as he has done in the past. Drugmakers including Pfizer Inc, Sanofi SA, and GlaxoSmithKline Plc plan to raise U.S. prices…

Home Prices Soar At 3 Times The Fed's Inflation Target Across All US Cities

The Fed’s most frequent lament is that no matter how many trillions in bonds (and stocks and ETFs) it buys or how much liquidity it forehoses into the market, it just can’t push broader inflation higher. Well, here’s an idea: maybe all the central-planning megabrains at the Marriner Eccles building and 33 Liberty Street can…

US Home Prices Accelerate At Fastest Pace Since 2014

Despite headlines proclaiming there’s no inflation to worry about, Case-Shiller Home Prices were expected to accelerate even stronger in October (the latest data released today) and they did. The 20-City Composite screamed 7.95% higher YoY (smashing expectations of a 6.95% rise) Source: Bloomberg That’s the fastest rate of acceleration since June 2014. Home prices rose…

Existing Home Sales Tumble For First Time Since May, Prices Hit Record Highs

After a big surprise jump in October, existing home sales were expected to drop MoM in November (as homebuilder sentiment rolled over from record highs) after 5 straight months higher and sales did slump – more than expected. Existing Home Sales fell 2.5% MoM (worse than the 2.2% drop expected) and the first MoM drop…

Why Albert Edwards Is Starting To Panic About Soaring Food Prices

Why Albert Edwards Is Starting To Panic About Soaring Food Prices Tyler Durden Thu, 12/17/2020 – 16:41 “On the 10th anniversary of the start of the Arab Spring, and with poverty having already been made much worse by the pandemic, another food price bubble could well be the straw to break the very angry camel’s…

Manhattan Apartment Prices Just Crashed To 10 Year Lows

Manhattan Apartment Prices Just Crashed To 10 Year Lows Tyler Durden Thu, 12/17/2020 – 12:40 The medial rental price in Manhattan fell an astonishing 22% in November…

CPI Comes In Hotter Than Expected On Hotel, Airline Fares; Used Car Prices Drop

The latest inflation print for the month of November came in hotter than expected, with the BLS reporting that headline and core CPI rose by 0.2%, above expectations of a modest 0.1% increase. Both prints were 0.0% in October.  The food index decreased 0.1% in Nov. after rising 0.2% in Oct, while the Energy index…

Saudis Raise Crude Prices To Asia For First Time In 4 Months After OPEC+ Deal

Just day after OPEC+ reached an agreement to ease production curbs (in order to keep UAE happy) but assess production levels monthly in order to ensure that oil prices don’t slide after reaching an 8 month high on covid vaccine optimism, Saudi Arabia raised oil pricing for customers on Sunday for its main market of Asia….

Oil Prices Drop After OPEC+ Reaches Deal, Will Boost Output In January

Update (1155ET): OPEC+ has finally reached a deal on a small hike of 0.5MM barrels/day in January, along with a monthly review of global market conditions and whether adjustments must be made, sending oil prices sliding as investors are forced to revise their supply forecasts. As the factious talks dragged on without a deal, the…

Home Prices In Every Major City Jump More Than Double The Fed’s Inflation Target

While various Fed speakers are vowing this week that there will be no rate hikes until at least 2023 or 2024, the Fed may be surprised to learn that if it were to broaden its definition of inflation, it would find it is quite ample already. One month ago, we looked at the housing market…

People Going Hungry = Record High Stock Prices

Authored by Simon Black via SovereignMan.com, New York City is up 33% this year. St. Louis is up 66%. In Oregon it’s up 100%. I’m not talking about real estate prices, local budget gaps, or even property tax rates. These are the startling increases in the number of people across the country, and the world,…

  • 1
  • 2