Surprise

WTI Slides After Surprise Crude Build

Oil prices gave back a lot of their early gains today as chatter about the US stimulus plan suggested its not ponies and unicorns for all after all and worries about Chinese demand weighed. WTI slipped back below $53 briefly. The U.S. “is still the biggest market in the world and it hasn’t recovered all…

Surprise! Chicago Mayor Pushes To Loosen Lockdowns Days Before Biden Inauguration

A second Democratic leader is pushing for loosening COVID-19 restrictions, just days before President-elect Biden is set to be sworn in. Following on the heels of NY Gov. Andrew Cuomo’s call to “reopen the economy,” Chicago Mayor Lori Lightfoot is now of the opinion that bars and restaurants need to reopen for indoor dining “as…

US Factory Orders Surprise To Upside In November

Amid a resurgence of the virus and the concomitant lockdowns, weakness in PMIs, and rising joblessness, analysts still expected Factory Orders to rise in November and they did… more than expected. US Factory Orders rose 1.0% MoM in November (more than the +0.7% expected) and October was revised higher to +1.3% MoM. That is the…

In Surprise To Markets, BOJ Buys Smallest Amount Of ETFs In Four Years

The Bank of Japan bought just 50.1BN yen of ETFs on Monday – the first day of 2021 – the smallest amount it has bought in more than four years on a day when it has made a purchase as part of its ETF buying program. The reason this is notable is two-fold: i) it…

Trump Tweets Surprise Threat To Iran After Latest Attack On Baghdad Embassy

President Trump in a surprise late Wednesday tweet has directly blamed Iran for the Sunday rocket attack on the US Embassy in Baghdad, which according to prior reports involved eight ground-fired rockets targeting the compound.  It comes as the USS Georgia nuclear submarine is currently deployed to the Strait of Hormuz in very open signaling…

WTI Extends Losses After Surprise Crude Build

Oil prices extended their losses today, with WTI back below $47 at its lowest in a week, as fears of a rapidly spreading COVID strain struck fear in the vaccine-hopers expecting a return to normal. “This sudden, panicked action by government around the world points to the risk of even more widespread lockdowns and travel…

WTI Holds Gains Despite Surprise Crude Build

 Oil surged to the highest in nearly 10 months in New York alongside a broader market rally as hopeful headlines on US stimulus talks combined with the COVID-19 vaccine rollout stoked optimism around a demand revival…again! “Oil’s reacting to pretty significant increases in risk appetite,” said Bart Melek, head of global commodity strategy at TD Securities. “But with the…

Surprise: Student Debt Relief Will Mostly Help Middle- And Upper-Income Households

Now that the air is heavy with talk of debt forgiveness, initially starting with the government’s $1.6 trillion student loan portfolio before Democrats move to a broad debt jubilee much to the chagrin of all those Americans who responsibly have paid their obligations every month, investment banks have started analyzing the impact of the various…

Trump: ‘Surprise Ballot Dumps’ Behind Lead Changes

President Trump took to Twitter on Wednesday claiming that ‘surprise ballot dumps’ are to blame for his lead ‘magically disappearing’ overnight. “Last night I was leading, often solidly, in many key States, in almost all instances Democrat run & controlled,” wrote Trump, adding: “Then, one by one, they started to magically disappear as surprise ballot…

How One Trader Is Betting On A “Surprise” Trump Victory

Submitted by Harris Kupperman from Adventures in Capitalism My Trump Trades Let’s start with a disclaimer here. I’m not a professional pollster. With few exceptions, most of the professional pollsters are on the opposite side of this trade. I’m a contrarian and that means I am bound to get a few of these wrong. With…