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After Worst Quarter Ever, WTI Extends Losses On Massive Crude & Gasoline Build
After Worst Quarter Ever, WTI Extends Losses On Massive Crude & Gasoline Build After its worst quarter ever, as COVID-19 lockdowns crushed demand, raising fears about overflowing storage tanks amid a price war that has flooded the market with extra supply, all eyes are glued to new inventory data as Standard Chartered analysts, including Emily Ashford warned in […]
Maersk Crew Hospitalized In First Ever COVID-19 Cases On Board A Container Ship
Maersk Crew Hospitalized In First Ever COVID-19 Cases On Board A Container Ship Despite one of the the world’s largest shipping lines, Maersk, recently suspending all crew changes aboard its container vessels for up to one month in order to shield crew and operations from the coronavirus and keep them “as normal as possible,” this weekend witnessed the first ever confirmed cases […]
Fed Launches Repo Facility To Provide Dollars To Foreign Central Bank
Fed Launches Repo Facility To Provide Dollars To Foreign Central Bank With US dealers no longer using the Fed’s repo facilities (this morning we had another “no bid” overnight repo with just $250MM in MBS submitted for a $500 billion op) as the Fed soaks up all securities via its aggressive QE which is still […]
China Shuts Down All Cinemas, As Scientists Fear Second Coronavirus Wave
China Shuts Down All Cinemas, As Scientists Fear Second Coronavirus Wave China spent most of March attempting to normalize its economy after several months of virus-related shutdowns. There were reports of retail stores opening, people going outside, virus cases declining, factories restarting, and even movie theaters reopening. The Hollywood Reporter noted that the government gave nearly 600 movie theaters […]
“This Could Turn Violent” – Italian Officials Fear South Turning Into A Powder Keg
“This Could Turn Violent” – Italian Officials Fear South Turning Into A Powder Keg Signs of social unrest in major Western cities could be developing over the next few weeks, and as we previously warned last Friday, a global depression with high unemployment could unleash a “social bomb” in European countries and or North America. […]
Texas Or Canada: Where Will Oil Hit $0 First
Texas Or Canada: Where Will Oil Hit $0 First Looking at the future of oil prices, Goldman was downright apocalyptic in its short-term forecast, when in a note published this morning, the bank’s chief commodity strategist Jeffrey Currie speculated that as the current production glut “shock” cripples the crude transportation networks, “a producer would be […]
Jim Grant Warns Fed’s ‘All-In’ Actions Are A “Clear-And-Present-Danger” To US Creditors
Jim Grant Warns Fed’s ‘All-In’ Actions Are A “Clear-And-Present-Danger” To US Creditors In a veritable treatise on all that was wrong with The Fed’s actions, Jim Grant – founder and editor of Grant’s Interest Rate Observer – was somehow allowed nine minutes on CNBC’s Squawk Box to put America straight on what we are facing […]
“This Is The Largest Economic Shock Of Our Lifetimes”: Goldman Sees Negative Prices Amid Oil Devastation
“This Is The Largest Economic Shock Of Our Lifetimes”: Goldman Sees Negative Prices Amid Oil Devastation Over the weekend, we reported that with the oil industry oversupplied by a mindblowing 20 million barrels daily as roughly 20% of total global output ends up unused in a world economy that has ground to a halt, and instead has to be […]
The Unthinkable Is Happening: Oil Storage Space Is About To Run Out
The Unthinkable Is Happening: Oil Storage Space Is About To Run Out In the past three weeks, oil plunged and has continued to plunge even more in the aftermath of the oil price war declared between Saudi Arabia and Russia, and where US shale (and its junk bonds) has been caught in the crossfire. However, […]
Dr. Fauci: “We’re Going To Have Millions Of Cases” And “Between 100K & 200K Deaths”
Dr. Fauci: “We’re Going To Have Millions Of Cases” And “Between 100K & 200K Deaths” The last time Dr. Anthony Fauci did the Sunday Shows a few weeks back, he achieved a vaunted Washington milestone by doing all five network and cable Sunday shows – NBC, ABC, CBS, Fox News & CNN – in one […]
West Faces “Social Bomb” As Pandemic Sparks Unrest Among Poorest
West Faces “Social Bomb” As Pandemic Sparks Unrest Among Poorest The next phase of the COVID-19 pandemic could be a flare-up of social unrest across major Western cities as millions have lost their jobs, economies have crashed into depressions, and the military is being called up to maintain order. The Federation of Red Cross and Red Crescent Societies (IFRC) […]
“Unprecedented Decline” – The Collapse In World Trade Is A Once In A Generation Shock
“Unprecedented Decline” – The Collapse In World Trade Is A Once In A Generation Shock COVID-19 is expected to produce a global recession depression as nearly all of the world’s major economies have ground to a halt between February and March, expected to continue through April. The crash in China’s economic activity, shown last month, suggests that Europe […]
Russia To Close All Borders Monday After Banning International Flights
Russia To Close All Borders Monday After Banning International Flights Though official numbers of confirmed coronavirus cases out of Russia have remained comparatively low to other large countries, there’s alarming signals coming out of the country of some 150 million people that authorities understand the true numbers to in reality be much higher. Russia will “temporarily” initiate […]
