While virtually all prominent market commentators, most recently Bloomberg's Mark Cudmore, now seem convinced that the Fed will hike by 25bps on March 15, when just as recently as a week ago the question was June or September, some are still skeptical.
Just over a week ago, on February 21, when looking at the crude market, Dennis Gartman siad that "our bet at this point is that the bullish forces prevail, and we say this despite the fact that so much has been made of the rising level of “spec” longs in the market and despite the fact that the rising level of “commercial” shorts has reached new all-time highs.
Via Doug Ramsay Of Leuthold Weeden Capital Management,
Do You Believe This Guy?
Don’t tell The Donald, but the stock market doesn’t take him seriously.
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Gold Fundamentals Strong As PDAC Looms
Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL)
Gold prices have surged (+8.57% EOD Wednesday) since January. However, one expert says that trend could continue.
Via Zainab Calcuttawala of OilPrice.com,
Venezuela’s central bank is down to its last $10.5 billion in foreign reserves, according to the institution’s most recent report on the country’s financials.
Over the remainder of 2017, Caracas needs to fund $7.2 billion in debt payments – an amount that it can only meet if oil prices spike far higher than the ongoing boosts caused by OPEC’s output reduction agreement.