Despite last night's surprisingly large API-reported crude draw, WTI/RBOB prices were sliding in early trading but as the DOE data printed prices stabilized despite a smaller crude draw than API and a much bigger gasoline builds than expected. Production surged on the week to a new record high.
Since the 2009 stock market lows, investors have looked to the Semiconductor sector for strong returns and market leadership.
Just check out the performance numbers vs the broader stock market: Semiconductor ETF (SMH) +494% vs S&P 500 +262%.
With numbers that double those of the S&P 500, it’s fair to say that the Semiconductors have provided important leadership for this bull market.
Authored by Charles Hugh Smith via OfTwoMinds blog,
All of which brings us to the "crazy" idea of backing fiat currencies with cryptocurrencies, an idea I first floated back in 2013, long before the current crypto-craze emerged.
Authored by Kevin Muir via The Macro Tourist blog,
The past three Fed Chairs before Yellen all had their own crisis to deal with.
Volcker had the disaster of the early 1980’s as he struggled to tame inflation with double digit interest rates. That helped contribute to the Latin American debt crisis, and the subsequent global bear markets in stocks.
Hours ahead of today's "historic" final Yellen FOMC rate hike, CPI disappointed and traders are bidding bonds and bullion while dumping the dollar...
The odds of two rate hikes next year just tumbled...
Gold jumped and the dollar dumped...
And Treasury yields are tumbling...