Submitted by Nick Cunningham via OilPrice.com,
If anyone is cheering the news of an OPEC deal it is U.S. shale producers. The OPEC agreement sent oil prices shooting up this week, with WTI and Brent quickly surging above $50 per barrel.
In years to come markets may well look back at the month just passed as one of the most pivotal in recent memory, at least that's the assessment of DB's Jim Reid. The US election result just over 3 weeks ago sparked a huge divergence across asset classes and also between developed and emerging markets. In fact you could probably start this performance review from November 8th as assets were generally little changed in the first week and a bit leading into the election.
Authored by Steve H. Hanke of the Johns Hopkins University. Follow him on Twitter @Steve_Hanke.
During the past year, the Chinese yuan (CNY) has shed a bit more than 7 percent of its value against the greenback. That’s only one aspect of the CNY’s weakness. Another concerns the quality of the CNY.
As Jerry Jordan pointed out recently at the Cato Institute’s 34th Annual Monetary Conference, a central bank is a balance sheet. Among other things, the People’s Bank of China’s balance sheet contains information that indicates the quality of the CNY.
By Stefan Wieler from Goldmoney. The full text with additional charts can be accessed as PDF here
Since the recent US elections gold prices in USD have sold off 7% and prices are down 13% from the year’s highs. This has led some market commentators to declare this as a turning point in the renewed upward trend in gold prices that began last year. In this note we analyze the recent move in prices within our gold price framework with specific focus on three questions:
A federal judge in California has ordered bitcoin wallet service Coinbase Inc. to hand over records of all American user transactions from 2013 to 2015 to the IRS, as part of a tax evasion investigation. RT.com reports: On Wednesday, the Northern California District Court allowed the Internal Revenue Service to issue a “John Doe” summons to Coinbase in the pursuit of “information about US taxpayers who conducted transactions in a convertible virtual currency during the years 2013 to 2015,” the US Department of Justice said.