Via ConvergEx's Nicholas Colas,
While the world’s central banks struggle with deflation, millennials (those born between 1980 – 2000) are busy creating a world where persistently lower prices will be an economic cornerstone. “A feature, not a bug,” as they say in the tech world.
We suspect the following will be heard a little more this week than last...
The squeeze is over... for now thanks To Fed's Fischer...After 10 straight days without dropping, "Most Shorted" tumbled the most in 2 months...
Following Genscape's projection that Cushing inventories rose less than expected, various sources on Twitter report that API sees a 4.4mm build (in line with expectations of a 3.9mm build) after EIA's massive build of over 10.3mm barrels last week. Cushing saw a 692k build - the 6th week in a row but gasoline and distillates saw a draw. Crude sold off all day as the short-covering squeeze ended but as the data hit, WTI dipped, ripped, and dipped again... only to rally once more...
API
Submitted by Simon Black via SovereignMan.com,
Over 4,000 years ago during Sargon the Great’s reign of the Akkadian Empire, it took 8 units of silver to buy one unit of gold.
This was a time long before coins. It would be thousands of years before the Lydians in modern day Turkey would invent gold coins as a form of money.
Back in the Akkadian Empire, gold and silver were still used as a medium of exchange.
At 4:15pm ET, DoubleLine's Jeff Gundlach who continues to do no wrong in the market (even if it means buying stocks at his most doom and gloomish ahead of a record short squeeze), will hold his latest webcast titled "Connect the Dots" and in which he will explain why, as he told Reuters moments ago, "the rally in risk assets is nearing the end", which in turn explains why when the short covering frenzy had gripped the market last week, Gundlach was cashing out.
To register for the webcast, click on the image below.
More details from Reuters Jennifer Ablan: