By the SRSrocco Report,
The carnage continues in the U.S. major oil industry as they sink further and further in the RED. The top three U.S. oil companies, whose profits were once the envy of the energy sector, are now forced to borrow money to pay dividends or capital expenditures. The financial situation at ExxonMobil, Chevron and ConocoPhillips has become so dreadful, their total long-term debt surged 25% in just the past year.
With the December monthly TIC data due out this week, bond traders will be closely watching if the selling of US Treasuries by foreign accounts, and especially central banks, which as we have repeatedly shown for the past several months has hit record levels...
... will persist, with a focus on whether China's near record selling of US paper will persist.
However, this time the surprise may not be China, but its nemesis across the East China Sea, Japan.
Submitted by Steve Simpson via The Foundation for Economic Education,
After Donald Trump announced a number of cabinet picks who happen to be fans of Ayn Rand, a flurry of articles appeared claiming that Trump intended to create an Objectivist cabal within his administration.
North Korea said it successfully test-fired a new type of medium- to long-range ballistic missile that is capable of carrying a nuclear warhead, the country's state-run media said Monday. The North Korean missile flew over 500 kilometers, landing in the sea and stirring up world leaders, with the US rushing to reassure its allies South Korea and Japan.
Bloomberg is out with a fictional piece this evening -- asserting that creditors are selling treasuries because of Trump.
(adjusts microphone)
WRONG!
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