Author Archive: Jeremy Parkinson
Bullish On Oil Because Of Trump? Don’t Be!
Some are bullish on oil because Trump threatens to kill the deal with Iran. It’s faulty thinking. Way faulty. Oil analysts claim the Tillerson ouster is bullish for oil. Rex #Tillerson ouster bullish for #oil (bearish for #IranDeal) analysts like @JoeMcMonigle say https://t.co/KNpa6mVWGh via @dan_graeber @crudeoilprices pic.twitter.com/9ULJqwDzGj — Hedgeye (@Hedgeye) March 14, 2018 Joseph McMonigle […]
Is That Inflation On The Horizon?
Treasury bonds were fairly quiet last week and have been tame so far this week too. Stocks sold-off recently when Gary Cohn, President Trump’s top economic advisor, resigned, reportedly because Cohn and Trump clashed over the idea of a trade war. Despite the continuing political circus, Treasury yields traded in a narrow range ahead of last […]
WTI Down, RBOB Up After Huge Gasoline Draw, Crude Build, Record Production
WTI/RBOB prices held gains from last night’s smaller-than-expected crude build from API, but prices action was mixed after DOE reported a bigger than expected crude build and bigger than expected gasoline draw (as production hit a new record high). Bloomberg Intelligence’s Valle notes that maintenance season for refiners will deplete gasoline inventories over the coming weeks as the plants open space for […]
Continued Muted Moves For The Metals
Brien Lundin joins me today to look at the metals markets and what could drive prices. It seems not just the gold bugs are waiting for a break in price to make the sector more enticing. Volumes remain low and even when we have news events that drive other markets the metals don’t move to […]
The Civilian Labor Force, Unemployment Claims And The Business Cycle – Wednesday, March 14
Note: We’ve updated this commentary to include the latest labor force data in Friday’s employment report. Every week we post an update on new unemployment claims shortly after the BLS report is made available. Our focus is the four-week moving average of this rather volatile indicator. The financial press generally takes a fairly simplistic view of the latest […]
Bear Of The Day: Caesarstone (CSTE)
Caesarstone (CSTE – Free Report) is a $750 million maker of engineered quartz surfaces such as countertops, vanities, wall cladding, floors and other interior surfaces. The Israel-based company was identified as a Zacks #5 Rank Strong Sell in June of last year when shares were trading $38. It has fallen 45% since then. And the downward trend of […]
Equifax Executive Charged With Insider Trading
Looks like Democratic Senator Heidi Heitkamp is getting her wish. After demanding that “somebody needs to go to jail” during a Congressional hearing about the Equifax breach late last year, the Department of Justice on Wednesday charged Jun Ying, the former chief information officer of one Equifax business unit, with insider trading, claiming he knowingly sold shares […]
January 2018 Headline Business Sales Declined, Inventories Grew
Econintersect‘s analysis of final business sales data (retail plus wholesale plus manufacturing) shows little change in the rate of growth. Analyst Opinion of Business Sales and Inventories Inventories are elevated this month. Our primary monitoring tool – the 3 month rolling averages for sales – was little changed and remains in expansion. As the monthly […]
Key Takeaways From The UK Spring Forecast
The Great Britain Pound jumped against its global peers following the Spring Forecast by Phillip Hammond. The currency jumped by 0.60%, 0.50%, 0.15%, and 0.63% against the Chinese Yuan, Dollar, Euro, and Japanese Yen respectively. In his statement today, Philip Hammond talked about many things but the most notable was his statement about the country’s […]
