Business

Dear Citigroup employees, we suggest you stop reading this post right now or else you may find that the enclose dose of reality, pardon, permabearishness is precisely what you all want.

For everyone else, here is the latest rant by Richard Breslow explaining not only why traders are frustrated in a market in which nothing makes sense, but but where after holding their hands for years, central bankers have finally forsaken the 20 year old hedge fund managers:

Submitted by Eric Bush via Gavekal Capital blog,

More "unequivocally good" news. On the heels of a smaller than expected drawdown in natural gas inventories (-117 vs -135bcf), Nattie futures have tumbled to their lowest intraday level since 1999...

And while the oil market is "glutted," some are arguing the NatGas market is even more so...

OilPrice.com's Nick Cunningham warns, while the glut in oil is expected to continue for the next year or so before balancing in late 2016, the pain for liquefied natural gas (LNG) could be just beginning...

Russia wants to sell some bonds and President Obama isn’t happy about it.

Moscow is looking to issue “at least” $3 billion of foreign bonds in what amounts to the country’s first international issuance since the West imposed sanctions on The Kremlin in 2014 after the annexation of Crimea and Russia’s alleged role in “destabilizing” Ukraine (because it was very “stable” before).

We have joked about it in the past: with equities around the globe all correlating tick for tick with the price of oil (supposedly "lower oil is good for the economy", just don't tell that to the stock market), instead of doing piecemeal interventions and monetizing stocks, something which as even Citigroup has noted no longer works, what central banks should do instead is monetize the source of all market problems: oil itself.

We first joked last January that the ECB should do it...