Business

As has been widely trumpeted across the financial media, today was the 7 year anniversary of the March 2009 market bottom: whether this "most hated rally" was worth the $60+ trillion in incremental global debt and the $14 trillion in global central bank liquidity, even as the middle class has been decimated - as we forecast would happen roughly around the time Ben Bernanke unveiled QE1- leading to such outcomes as a global rejection of a failed status quo and the rise of Donald Trump we leave to the historians.

Submitted by Charles Kennedy via OilPrice.com,

A federal bankruptcy judge ruled that Sabine Oil & Gas could withdraw from its contract obligations with pipeline companies to ship a certain volume of oil and gas through their pipelines.

By EconMatters

Gasoline demand is driving the oil complex higher, relatively strong gasoline numbers on the refinery input side and the gasoline demand side of the equation. Brent should test $44 a barrel pretty soon, unless something dramatically happens that is unforeseen as of today.

https://www.youtube.com/watch?v=AlQKxl_ii-E

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Seriously!!!! That Close!!!

http://www.youtube.com/watch?v=FsqJFIJ5lLs

Your day in the "market"...

The "stable" oil market...

Following yesterday's noisy drop, today was the echo with a noisy choppy low volume rally as Oil sparked the momentum in the pre-open, but stocks decoupled lower from both JPY and Oil (smashed lower on weak wholesale trade data and a realization that US crude production rose)...

Via ConvergEx's Nick Colas,

Today we engage in a simple thought experiment: what 3 pieces of information would you need to confidently call the 2016 end-of-year level on the S&P 500?

 

A brief survey of senior Convergex traders yielded this list: year-end worldwide central bank rates, Chinese GDP growth in 2016, actual 2016 US corporate earnings, the winner of the U.S. presidential race, and the pace of increases in the Fed Funds rate for the year.