Crude Crashes To 2-Mo Lows After Saudi/OPEC Promise

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Oil futures tumbled to the lowest level since August after Saudi Arabia pledged to meet any supply shortfall that materializes resulting from Iranian sanctions and as tumbling equities weakened sentiment. Saudi Energy Minister Khalid Al-Falih said OPEC and its allies are in “produce as much as you can mode.” Nomura’s Charlie McElligott earlier noted significant de-leveraging expected of a… Read More

Canada Trade, Plain and Simple

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The Bank of Canada held its benchmark overnight rate steady at its last meeting in early September. Like the Federal Reserve, Canada’s central bank has been “tightening.” The policy lever had been lifted four times starting in July 2017. It is expected that when monetary officials meet in Ottawa tomorrow they will vote for a… Read More

Another Day Older and Deeper in Debt

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Miles Franklin sponsored this article by Gary Christenson. The opinions are his. Official US national debt exceeds $21 trillion. National debt increases over $3 billion per day. Another day older and $3 billion deeper in debt! The U.S. government pays the interest by issuing new debt. But that new debt increases total debt and (eventually)… Read More

Tuesday Afternoon Links

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[CNBC] Dow plummets more than 450 points after disappointing earnings from Caterpillar and 3M [BloombergQ] Stocks Tumble; S&P Touches Lowest Level Since May: Markets Wrap [Reuters] Italian yields rise as EU gives Rome three weeks to revise budget [BloombergQ] Oil Tumbles to One-Month Low as Saudis Pledges Adequate Supply [CNBC] Trump and China’s Xi to meet at G-20: Kudlow [CNBC] EU… Read More

Mike Krieger Blasts US Media's "Despicable, Unethical, & Pervasive" Links To Saudi Money

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Authored by Mike Krieger via Liberty Blitzkrieg blog, Unbelievably – Rothkopf has the audacity to criticize Trump for having “repeatedly shown great fondness for foreign leaders—even despots and known murderers, human rights abusers and criminals”, while Rothkopf himself is literally a paid agent working to disseminating propaganda for one of the most repressive regimes on the planet, one that does… Read More

Monthly Macro Monitor – October 2018

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Stocks have stumbled into October with the S&P 500 down about 6% as I write this. The source of equity investors’ angst is always hard to pinpoint and this is no exception but this correction doesn’t seem to be due to concerns about economic growth. At least not directly. The most common explanation for the… Read More

Joburg, Cape Town show Africa the way in raising money

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JOHANNESBURG — We tend to take our developed and sophisticated capital markets for granted here in South Africa sometimes. Reading this article, it becomes clear how Joburg and Cape Town have been easily able to raise money via the likes of the bond markets while other African cities just simply have no capacity to do… Read More