United States

By Chris at www.CapitalistExploits.at

So today I'm going to leap all over the place and show you some some interesting things that've come across my desk in the last week. Why no full fledged blog?

President Trump has placed Vice President Mike Pence in charge of an official government investigation into claims that widespread voter fraud took place during the 2016 US presidential election.  Pence will head a special commission to investigate claims that Clinton won the popular vote due to voter fraud across the United States. Presstv.ir reports: “I’m going to set up a commission to be headed by Vice President Mike Pence and we’re going to look at it very, very carefully,” Trump told Fox News’s Bill O’Reilly in an interview on Sunday afternoon.

The Kremlin expects an apology from Fox News after their host Bill O’Reilly called the Russian President “a killer.” O’Reilly called President Vladimir Putin a killer while questioning Donald Trump’s intention to work more closely with Russia. During the interview the US President defended the Russian president and reasserted his willingness to work with him. ‘You think our country is so innocent?’ – Trump asked O’Reilly, adding “We’ve got a lot of killers.” RT reports: “We consider the words of the Fox News host unacceptable and insulting,” Kremlin spokesman Dmitry Peskov said on Monday.

In his latest slidepack, BofA's chief technician Paul Ciana sees nothing but head & shoulder reversal patterns in virtually every currency pair and rate chart: i.e., the unwind of "Trump trade." As he writes in a just released note, "many US dollar and euro crosses, US rates, US 2s10s and US 10y TIPS have just formed or are developing a head and shoulders reversal pattern. The breadth of these patterns suggests the January correction of the 4Q16 trends will continue in 1Q17, or at least delay a continuation of stronger USD and higher rates."

Submitted by Nick Cunningham via OilPrice.com,

Oil and refined products inventories in the U.S. continue to climb at a worrying pace, raising some red flags for an oil market that was supposed to be on the mend.

Crude oil inventories jumped by a whopping 6.5 million barrels last week, rising to 494.8 million barrels. Oil stocks have now increased every week of 2017, and are now not far off from the 80-year highs reached in 2016.

(Click to enlarge)