Oilpocalypse Wow! Stocks, Bond Yields Plunge As Bank Risk Soars
What The Bank of Japan gives, The Japanese Finance Ministry taketh away...
Artist's impression of the last few days in crude, JPY, and US stocks...
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Politics & Oil - What The President Failed To Mention
Submitted by Ken Wells via OilPrice.com,
“What we have here is a failure to communicate.” That’s what the warden says to Paul Newman in the movie Cool Hand Luke, right after he knocks him into a ditch. The oil and gas industry has its own failure to communicate and the longer prices bump along the bottom, the worse it seems to be getting.
Most. Expensive. Market. Ever
Are stocks cheap? Is the 'Stock-Market' "priced-for-perfection"? Here is your answer...
The answer is - Yes and Yes-er!
h/t @Not_Jim_Cramer
Simply put, the S&P 500's forward earnings based valuation has never (in the history of the time series) been higher relative to consensus expectations of economic growth... ever.
Surging Bank Risk Screams The Rebound In Stocks Is Over
BMO's Mark Steele is a man of few words, preferring pictures to make his points... but they matter:
Let’s just keep it simple. When bank risk breaks to the upside, it’s bad for equities...
European bank risk is breaking out...
which has arrested the pullback in U.S. bank risk - which is now soaring...
And that bodes ill for global stocks...
S&P Just Downgraded 10 Of The Biggest US Energy Companies
Just 10 days after "Moody's Put Over Half A Trillion Dollars In Energy Debt On Downgrade Review", moments ago S&P decided it wanted to be first out of the gate with a wholesale downgarde of the US energy companies, and announced that it was taking rating actions on 20 investment-grade companies, including 10 downgrades.
The full release is below: