Crude Crashes On Biggest 2-Week Gasoline Inventory Build On Record
Submitted by Tyler Durden on 01/13/2016 - 10:36
Confirming API data overnight, DOE reports that while total inventories of crude rose less than expected (+234k vs +2.1mm exp.) Gasoline and Distillates saw a massive build once again. Gasoline invenrtories rose 8.44mm barrels (following last week's 10.6mm record build) is the biggest 2-week inventory build in history. Crude has crashed back from overenight "China is buying oil" demand hopes.
"We Could Be Looking At A Really Ugly First Quarter" - Jeff Gundlach At His Most Bearish Yet
Submitted by Tyler Durden on 01/13/2016 - 10:08
"Oil goes below $40, it’s frightening for geopolitical behavior. Guess what, folks? It’s below $40 and this frightening political behavior is upon us.... We could be looking at a really ugly situation during the first quarter of 2016... I think we're going to take out the September low of the S&P500."
SunEdison Plunges 15%, Halted As Tepper Sues To Block Acquisition
Submitted by Tyler Durden on 01/13/2016 - 10:06
The ongoing drama between SunEdison and Terraform Power and Appaloosa's David Tepper just escalated yet again. The stock plunged 15% after an initial halt but is now halted once again as Tepper says "immediate action is needed" as he sues the firm to block the firm's 'nepotistic' deal to acquire Vivint assets, having previously warned SUNE is "self-dealing."
Icahn's Freeport McMoran Is Not Buying The Bounce
Submitted by Tyler Durden on 01/13/2016 - 09:55
With Freeport McMoran at the top of the list of entities due to be downgraded to junk (in fact trading in credit markets with a 79% chance of default), it is perhaps not entirely surprising that yesterday's dead-cat-bounce is fading fast this morning as Carl Icahn's big bet turns sour-er.
Former Federal Prosecutor Says Hillary Clinton Could Be Indicted Within 60 Days (Or FBI Will Revolt)
Submitted by Tyler Durden on 01/13/2016 - 09:39
"I believe that the evidence that the FBI is compiling will be so compelling that, unless [Lynch] agrees to the charges, there will be a massive revolt inside the FBI, which she will not be able to survive as an attorney general..."
About That "Surging" Chinese Trade Data, There Is Just One Thing...
Submitted by Tyler Durden on 01/13/2016 - 09:15
While Chinese New Year seasonals are undoubtedly one factor in last night's "surprisingly good" Chinese trade data, the following chart shows the level of "bullshit factor" was extreme by anyone's measure. Three years ago we first brought China's 'fake' trade data and abundant discrepancies to the public's attention and despite an apparent crackdown by regulators, the gaping difference between imports from Hong Kong and exports to Hong Kong is downright embarrassing for China's SAFE as it is clear that capital outflows are being disguised as exports with "over-invoicing" back in play.
Banksters Win Again - "Audit the Fed" Bill Fails In The Senate
Submitted by Tyler Durden on 01/13/2016 - 08:56
Rand Paul’s signature “Audit the Fed” legislation failed to garner the 60 votes needed in the Senate to move the measure forward. Of course, this is merely the latest in a never-ending series of banker victories, and a truly devastating blow against liberty, free markets, transparency and any hope for government by the people and for the people. Ensuring that light is never shined on the Fed’s shady, corrupt and unaccountable bailout activities has always been a key goal of the American oligarchy, and they succeeded once again.
Gartman Now Says Crude Has Bottomed Hours After Warning Of "Egregiously Lower" Prices And "Panic Selling" To $15
Submitted by Tyler Durden on 01/13/2016 - 08:16
"Crude oil prices, finally, have stabilised, and we shall go our far upon a limb here this morning suggesting very strongly that when nearby February WTI traded to $29.93 at its low yesterday amidst a great deal of very vocal consternation on the national business television channels that crude had “TRADED BELOW $30 PER BARRELL” that that was what we in the past had referred to as the “obscene number” and may well have been the low."
Frontrunning: January 13
Submitted by Tyler Durden on 01/13/2016 - 07:53- China trade surprise brings relief (Reuters)
- Obama knocks Trump, voices optimism (Reuters)
- Republican Candidates Criticize Obama’s State of the Union Address (WSJ)
- Republicans and Democrats Agree: We Hate Wall Street (WSJ)
- Oil rises for first time in eight sessions on China, U.S. stocks draw (Reuters)
- U.S. Exports First Freely Traded Oil in 40 Years (WSJ)
- China Imports Record Crude as Price Crash Accelerates Buying (BBG)
GE To Cut 6,500 European Jobs
Submitted by Tyler Durden on 01/13/2016 - 07:31
Earlier today GE announced plans to cut 6,500 jobs in Europe over the next two years, including 765 in France, a spokesman for the company in France said on Wednesday. The spokesman added that GE was sticking to its pledge to create 1,000 net jobs in France in the next three years as part of its recent acquisition of Alstom's energy business. So definitely firing 6,500, but tentatively promising to add 1,000.
Iran Releases Captured US Sailors After Questioning, Apology
Submitted by Tyler Durden on 01/13/2016 - 07:11
“Following technical and operational investigations and in interaction with relevant political and national security bodies of the country and after it became clear that the US combat vessels’ illegal entry into the Islamic Republic of Iran’s waters was the result of an unpurpuseful [sic] action and a mistake and after they extended an apology, the decision was made to release them."
Global Stocks Rebound As Fears Of Chinese Hard-Landing Pushed Back On Strong Trade Data
Submitted by Tyler Durden on 01/13/2016 - 06:50
After two months of sharp currency devaluation, the market was carefully watching last night's China trade data to see if the Yuan debasement had led to a positive trade outcome to the world's second largest economy, and as reported last night, it was not disappointed when China reported a December trade surplus of $60.09 billion from $54.1 billion in November, as a result of exports beating expectations and rising 2.3%, the first increase since June, while imports declined by just 4%, the smallest drop since 2014 despite China importing a record amount of oil, or 33.2 million tons, in December.
President Obama's Final State Of The Union Address - Live Feed
Submitted by Tyler Durden on 01/12/2016 - 23:50
As President Obama prepares to unleash his final State Of The Union speech, The White House has conveniently focused attention on the following six "success stories": The Economy (record low number of men in workforce), The Climate (too hot for retail, too cold for construction), Foreign Policy (bwuahahaha), Health Care (record number of Americans cutting back to afford medical costs), and Social Progress (record high racial tensions, police state, surveillance state, and record low trust in government). But apart from that, Americans have The Kardashians, iGadgets, record levels of syphillis, and, of course, a record surge in national debt during any President's "reign."
The Demise Of Dollar Hegemony: Russia Breaks Wall St's Oil-Price Monopoly
Submitted by Tyler Durden on 01/12/2016 - 22:20
Russia has just taken significant steps that will break the present Wall Street oil price monopoly, at least for a huge part of the world oil market. The move is part of a longer-term strategy of decoupling Russia’s economy and especially its very significant export of oil, from the US dollar, today the Achilles Heel of the Russian economy.
Jews Told Not To Wear The Kippa After Machete Attack At Marseille Synagogue
Submitted by Tyler Durden on 01/12/2016 - 21:50
"Not wearing the kippa can save lives and nothing is more important. It really hurts to reach that point but I don't want anyone to die in Marseille because they have a kippa on their head."
