One month ago, we reported that based on recent data, June oil output from shale producers would post the first double-digit production growth since July of 2015, when oil prices tumbled and a substantial portion of US production was briefly taken offline. While the final data has yet to be tabulated, it is safe to say that this is now the case.
Excerpted from John Hussman's Weekly Market Comment...
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Investors piled $2.7 billion into QQQ (the benchmark ETF tracking the Nasdaq 100 Index) in the five days through July 14 as shares in the fund posted their biggest advance this year.
As Bloomberg notes, the biggest weekly inflow since September 2010 came as the tech-heavy index - with megacaps Apple, Amazon, Facebook, and Alphabet among its largest members - rebounded to within 1 percent of its record high.
Two months after the Fed fined Deutsche Bank a paltry $157 million for manipulating currency markets after the German bank's traders were found to be using "chat rooms" to rig FX trading, we learn that there was more gambling going on here, and on Monday the Fed announced that it will fine French BNP Paribas $246 million "for the firm's unsafe and unsound practices in the foreign exchange (FX) markets."
Authored by Lance Roberts via RealInvestmentAdvice.com,
This past week, the lovely, and talented, Danielle DiMartino-Booth and I shared a discussion on the ongoing debate of why “Rates Must Rise.”
Debt drives rates lower....not higher. Debt is deflationary. See chart below and read this: https://t.co/jHAcnuGTit pic.twitter.com/tM2a5BrIiO