It is the 17th of January 2019

News

WTI Tumbles After Surprise Crude Inventory Build

Following the ugliest day in a month for WTI (on OPEC production increase survey), bulls hopes rest on tonight's API data confirming the recent trend of inventory draws but that was not to be. Against expectations of a 3.1mm draw, API reported crude inventories built by 1.78mm barrels last week. The kneejerk reaction was clear - down hard.

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Crude Crashes, Bonds Bid, & Trannies Turmoil But VIX Vanquished To 9 Handle Again

With oil crashing, 'hard' economic data slumping, political chaos ahead of the debt ceiling debacle, and The Fed about to embark on something no central bank has ever done (let alone done successfully), it should be no surprise that earnings expectations are being ramped exponentially higher and The Dow (thanks in large part to Boeing recently) has exploded near 22,000 today for the first time ever making yet another new record high...

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2016's Worst-Performing Stock Market Is Exploding Higher

In 2016, the world's worst-performing stock market (in dollars) was Nigeria.  

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Gold Surges To 6-Week Highs As Stocks Get De-FANGed, Trannies Worst Day Since Brexit

No fundamental catalyst for today's tech wreck (just as there wasn't last time), but many people noted the coincdental timing of JPM's Kolanovic note on Vol fragilities coincided with the start of the pain...

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First Anadarko, Now Whiting: Second Shale Company Slashes CapEx Budget

On Monday we reported that Anadarko, which previously had been lamenting the egregious amount of liquidity in the energy sector, became the first company to slash its full year capex budget by $300 million from a previous range of $4.5-$4.7 billion. As noted in our discussion, this was a material event not only for APC but the entire sector as "the Anadarko news is clearly negative for its shale peers, most of whom are set to announce similar capex declines."

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