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As The U.S. Achieves Energy Independence, Trump Lashes Out At OPEC (Again)
Fresh from "client" meetings in Paris, the world's foremost cross-asset strategist, Donald Trump, is back at the desk and let me tell you what, he is on it.
As U.S. stocks careened lower on Monday morning, most market commentators pointed the finger at Apple, which fell sharply on jitters about iPhone demand. While that seemed like a plausible explanation for the palpable sense of angst reverberating through Wall Street, Trump identified the "real" source of investor concern: Democrats.
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i see BAMLs point, but specifically on the oil side the US imports 7mbd + and exports 2mbd on a good week. Seems pretty far from independant on the oil front.
Exactly, a bit of “fake news” in this piece when it comes to US energy independence. Very wishful thinking when it comes to oil.
The oil market is currently stabilizing on the same futures curve established in the August 2015 first phase down move to purge excess market supply. This time I suspect the market will remain at this level if not spike higher by Spring rather than plunge. However, US equities are toast in this market rotation move.