“Unexplained, High-Volume Drops,” Yuan Shenanigans, And A Cartel Meeting

Well, things have been “choppy” overnight and especially around the flood of OPEC headlines that started coming in around 4:30 a.m. EST. As noted earlier this morning, crude dipped precipitously (although, the definition of phrases like “precipitous dip” and “flash crash” seems to be getting more liberal by the day of late) when Saudi Arabia’s Energy Minister…

OPEC Agrees To 9-Month Extension Of Cuts, Market Shrugs

The OPEC headlines started coming in hot and heavy around 4:30 a.m. EST and it looks like this one broke something: Deeper oil-production cuts have been suggested, and member countries indicated flexibility, but not thought necessary, Saudi Oil Minister Khalid Al-Falih says in Vienna before OPEC meeting. When that hit, prices fell. WTI slipped as much…

Storm Clouds Gather As Trump Headline Risk, Terror Attack Battle Econ Data For Market’s Heart

Well, this market’s mettle is being tested. Again. On Monday evening we got what might fairly be described as the worst kind of double-whammy: a WaPo report containing new revelations about Donald Trump’s attempts to obstruct justice in the Russia probe and a terrorist attack that killed 22 people in Manchester. The knee-jerk risk-off move…

“Sharks In The Sea Of Tranquility” – Looking Ahead

So what did we learn last week? Well, we learned that despite what amounts to an institutionalized policy of suppressing vol, there’s only so much markets can take when it comes to political turmoil. The S&P and the VIX finally met a near-term Waterloo on Wednesday following new revelations regarding what certainly looks like a concerted…

“It’s Funny Because It’s Treason”: Global Markets Jittery As Trump Makes New Lows

We start Tuesday on a treasonous note… So because he’s President, Donald Trump gets some intel. And, at least according to some sources, Trump is often surprised at just how “great” the intel is. And it turns out that maybe – just maybe – he got a little too excited when bragging about that tremendous intel to…