Cartoon Break (“Women’s Rights”)

“What are we missing?”

Advertisements

“OPEC Has A Deal!” Buy Euros! Wait, There’s A French Election? Welcome To Thursday.

Let’s start with oil real quick, because there are some notable headlines on Thursday morning. Recall that things took a decisive turn for the worst on Wednesday after EIA data confirmed Tuesday’s bearish API print(s). Specifically, the crude draw came in lower than expected (just like API) and the unexpected gasoline build was even bigger…

A Tragically Terrible Joke

As you may or may not be aware, Saudi Arabia and a Sunni coalition comprising the usual suspects has been at war in Yemen for two years now. “Operation Decisive Storm”, designed to retake the country from the Iran-backed Houthis who quite literally drove Abdrabbuh Mansour Hadi into the Gulf of Aden (he fled on a boat), began in March of 2015 and it’s been a sh*t show ever since.

Saudi Stocks Jump As Market Cheers New Budget

“Not a market was stirring”… Well, except for the Mid-East bourses where Saudi stocks are markedly higher on the first trading day since Riyadh announced its 2017 budget. (Chart: Bloomberg) “Riyadh said late on Thursday that it had succeeded in cutting a huge budget deficit caused by low oil prices and would increase government spending in 2017…