White House Panics As Gasoline Prices Rebound
OPEC+ could be on the verge of one of the largest production cuts in two years, a move White House officials would undoubtedly have a ‘panic attack’ as they attempt to dissuade the 23 crude-producing countries and its allies, such as Russia, from making the cuts. OPEC+ is considering cutting 2 million barrels a day, and…
New Lockdowns In Europe Put The Brakes On The Oil Demand Rebound
Authored Tsvetana Paraskova via OilPrice.com, Road traffic and transportation fuel demand in most of Europe at the start of 2021 is likely at its weakest since the end of the first lockdowns in the late spring, according to Bloomberg estimates and analysts, as more people stay at home with renewed lockdowns to fight soaring COVID-19 cases. Despite…
Small "Santa Rally" As Futures Rebound After Traders Shrug Off Trump Veto Threat
After initially tumbling after President Trump shocked the establishment and traders with a surprise tirade against the $900 billion relief package, calling it a “disgrace” and demanded stimulus checks be raised to $2,000 from $600 while demanding that “wasteful and unnecessary items” be eliminated, futures staged a full rebound as analysts said investors shouldn’t worry…
Record Big 30Y Auction Tails Despite Rebound In Foreign Demand
A record refunding week just concluded when the Treasury sold $27 billion in 30Y bonds – which as with this week’s 3Y and 10Y auctions, was the largest amount of 30Y paper ever sold by the US Treasury at one time. The auction stopped at 1.680%, tailing the When Issued by 0.6bps, and the highest…