Gold, forests, property stocks, inflation-linked bonds - these are just some of the assets investors are pouring money into on the view that the recent explosion of government spending and central bank stimulus may finally rouse inflation from its decade-long slumber. U.S. and euro zone inflation gauges indicate that annual price growth will be running at barely over 1% even a decade from now....
Jun.21 -- President Donald Trump called the coronavirus “Kung flu” during a rally in Oklahoma on Saturday, employing a slang term that’s been criticized as racist. He also said he had "done a phenomenal job" with the outbreak in the U.S. (Excerpts)...
Jun.21 -- President Donald Trump delivered his opening remarks at the BOK Center in downtown Tulsa, Oklahoma, on Saturday as he kicked off his first campaign rally since the coronavirus pandemic took hold in the U.S. (Excepts)...
‘Potential COVID-19 treatments, improvement in economic data, and more fiscal stimulus could push the S&P; 500 closer to an upside case scenario of 3,384,’ director of equity portfolio and technical strategy at Raymond James noted....
(Bloomberg) -- Every day, traders in London congregate at 4 p.m. to buy and sell North Sea oil for half an hour. The window, as it’s known in the industry, is where competition between the most powerful players in the market sets the price of Brent crude.Two months ago, every trader wanted to sell cargoes and none were keen to buy. Now the window has transformed into a bull market, where bids outnumber offers 10 to one and prices are surging.“The physical market is strong,” said Ben Luckock, co-head of oil trading at Trafigura Group.The turnaround reflects the most torrid period in the history of oil.First, the coronavirus outbreak obliterated demand in China and shattered the oil alliance between Moscow and Riyadh. Next, the global epidemic and destructive Saudi-Russia price war pushed the market to the brink of disaster. The collapse brought the rivals back together for the biggest production cut...
(Bloomberg Opinion) -- Remember negative oil prices and the fear that every storage tank on the planet would get filled to the brim? That seems a long time ago, with West Texas Intermediate crude now hitting $40 a barrel and the buildup of stockpiles poised to go into reverse. The warning sent by that trip below zero was heeded. Oil production was slashed and the crisis averted.But if you were hoping for a quick, V-shaped recovery in oil demand, look away now.The International Energy Agency published its latest oil market outlook last week, pushing its quarterly forecast out to the end of 2021 for the first time. It doesn’t think demand will have fully recovered by then. In the final quarter of next year it predicts global oil demand will still be running about 2 million barrels a day below pre-pandemic levels, and more than 4% below where it might reasonably have been expected to be in the absence of the...
