Frontrunning: February 26
Fight night: Rubio, Cruz gang up on Trump in debate ploy (Reuters) Laid Bare in Shanghai: G-20 Tensions Over How to Spur Growth (BBG) China Flags Scope for Policy Stimulus,…
About That “Oil Freeze”: Russian Crude Production Sets New Post-Soviet Record In February
As noted earlier, among the catalysts for the overnight leg higher in oil was a statement by Venezuelan Oil Minister Eulogio Del Pino who triggered the headline-scanning algos yesterday when…
Rally In Jeopardy: Gartman Covers His Shorts, Goes Long Oil
In our overnight wrap moments ago, when previewing today’s action, we said that “absent some dramatic reversal, such as Gartman covering his shorts and going unexpectedly long, expect the low-volume,…
Q4 GDP Revised Higher To 1.0% Thanks To Less Inventory Liquidation; Personal Consumption Falls
With Wall Street consensus expecting the poor first Q4 GDP estimate of 0.7% to be revised even lower to 0.4%, and with Wall Street’s biggest former permabull Joe LaVorgna expecting…
Cable Gets Pounded
Amid the biggest weekly drop in GBPUSD (cable) in 7 years, a surge in UK credit risk, and a spike in cable volatility, Brexit risk has never been higher, but,…
Get Back To Work Mr.Draghi – Deflation “Monster” Spreads Across Europe
Today’s current inflation data dump from across the European nations appears to confirm forward inflation expectations trend (plumbing new record lows). With a considerably bigger than expected decline in prices…
Copper & Crude Are Soaring On China Hype
Amid hype hope that China will suddenly change course and unleash all new fiscal stimulus – because just what the nation needs is more ghost cities, ghost bridges to nowhere,…
BofA Is Still Not Buying It: “Everyone (Including Ourselves) Is A Seller Into Strength”
With the S&P retesting its stubborn support level of 1,812 as recently as a week ago, many have continued to predict that failures to breach said level would result in…
VIX Capitulation?
VIX mini ‘flash-crashed’ this morning to test its 200-day-moving-average to the lowest level since Dec 31st 2015. For now, it appears to have marked a low… VIX slammed… To its…
Business News Round Up (Feb 26): MTN drops N50bn, Naira plunges 30%
Punch FG confirms MTN’s N50bn payment, says negotiations continue:The Federal Government on Thursday confirmed that MTN Nigeria had made a payment of N50bn towards resolving its protracted dispute with the…