10 Key Energy Trends To Watch For In 2016
Submitted by Tyler Durden on 01/06/2016 - 12:55
Energy investors got clobbered in 2015, and are hoping for things to turn positive as we head into the New Year. What can we expect in 2016? Here is a rundown of some key trends to watch for...
A Warning For The Bears: Gartman Calls It "This Is Now A Fully-Fledged Bear Market"
Submitted by Tyler Durden on 01/06/2016 - 12:22
Just when you thought it was safe to go short: "We are, for the first time in years suggesting… indeed, we are stating it rather clearly… our belief that the global bull market that began in the spring of ’09 ended, in retrospect, in the very first days of summer of last year. We shall, henceforth, look to err bearishly of equities, holding long positions in some equities, but erring on balance to the short side of the global equity market."
A Mysterious Death Raises Questions In Russia
Submitted by Tyler Durden on 01/06/2016 - 11:52
Intrigues within the Kremlin reignited Monday after the chief of Russia's military intelligence service, Igor Sergun, died unexpectedly. Sergun was a relatively unknown figure who kept a very low profile over his 30-year career, despite the fact that his position at the head of the Main Intelligence Directorate (GRU) of the General Staff of the Armed Forces made him one of the most powerful figures in Russian security.
Yes, The ECB Chief Economist Really Said It: "If You Print Enough Money, You Always Get Inflation. Always."
Submitted by Tyler Durden on 01/06/2016 - 11:38
And with that we can finally close the book on slippery central bank semantics on what precisely it is that they do, and what it is they plan to achieve.
"America Is A Gang Of Cruel Robbers": North Korea Boasts Of "Successful" Nuke Test As Skeptics Laugh
Submitted by Tyler Durden on 01/06/2016 - 11:16
WTI Crude Plunges To $34 Handle After Record Gasoline Inventory Build
Submitted by Tyler Durden on 01/06/2016 - 10:39
Following last night's API-reported large draw in overall crude inventories (year-end and exports driven), DOE reports a 5.09mm draw (more than expectations of a 4.1mm draw but less than API's 5.6mm draw). However, Cushing inventories rose for the 9th week in a row (+917k) and more troubling for the future is gasoline inventories soared 10.58mm barrels - an all-time record (and distillates rose 6.31mm barrels). Crude prices already gave up their API gains and are tumbling back below $35 on this build news.
Things That Make You Go Boom: U.S. Spending On Military Aircraft Surges Most Since September 11
Submitted by Tyler Durden on 01/06/2016 - 10:28
Now that the subprime-funded "growth dynamo" that kept the US economy chugging along over the past year has finally choked, as we saw yesterday when auto sales posted the weakest print in half a year, there is just one industry that is keeping US factory orders, which have already declined for 13 consecutive months, from an all out implosion. War.
US Factory Orders Deep In Recession - Tumble YoY For 13th Month In A Row
Submitted by Tyler Durden on 01/06/2016 - 10:19
US factory orders have never dropped this far for so long without the US economy overall being in recession. November's 4.2% YoY drop is the 13th consecutive monthly drop. Revistions to durable goods data shows a 1% drop in new orders ex-defense in November after rising 1.4% in October.. and as a reminder, this data was buoyed by a 46.9% surge in defense aircraft and parts orders to all-time highs. Traders better hope for moar war or the reality of the economy will peak out from behind the military-industrial complex veil.
Manufacturing Leads, Services Follow: ISM Collapses To Weakest Since March 2014 As "Pace Of Hiring" Slows
Submitted by Tyler Durden on 01/06/2016 - 10:07
As goes US manufacturing, so goes US services. In a narrative-crushing print, US Services PMI dropped to 54.3 - the lowest since January 2015. Output and New business growth slumped to 11-month lows, optimism dropped, and input cost inflation continued to moderate as "suggests the pace of hiring has slowed since earlier in the year as businesses have become more cautious." Then, confirming this plunge, ISM Services printed 55.3 - its lowest since March 2014 as unadjusted new orders collapsed to their lowest since February 2014.
Revisiting The Greatest Crash In History
Submitted by Tyler Durden on 01/06/2016 - 09:50
All we can do is point out the risks, so that people can at least prepare on an individual level. A major lesson everybody should take to heart from the Cyprus experience is this: when the next crisis strikes, do not believe any of the promises uttered by government or central bank officials. You will be lied to in the critical moments, and you could stand to lose a lot if you believe the lies.
US Equity Collapse Erases All Post-QE3 Gains As FANTAsy Stocks Plunge
Submitted by Tyler Durden on 01/06/2016 - 09:31
But, but, but... it's not a market-driven only by The Fed, right?
Dear Mark Zandi... Please Explain This
Submitted by Tyler Durden on 01/06/2016 - 09:15
If Mark Zandi and his "whatever it takes" seasonal-adjusters at ADP are to be believed, the US manufacturing sector added the most jobs in 11 months in December. Our question is simple - with ISM Manufacturing Employment at post-recession lows and US Manufacturing PMIs at post-recesssion lows, and inventories-to-sales ratios at post-recession highs, why are goods-producers hiring at such a frantic pace?
Apple Tumbles To ETFlash Crash Levels, Saved (For Now) By Another Tim Cook Hail Mary Announcement
Submitted by Tyler Durden on 01/06/2016 - 09:10
Apple's shares broke below $100 in pre-market trading as analyst downgrades and further component producer outlook reductions weighed heavily on the "no brainer." It appears increasingly likely that Tim Cook's "rescue" email to Cramer on August was perhaps not the entire truth.. and the market is trading back to levels it first crossed in August 2014 (i.e. unchanged in 16 months). Of course, amid this carnage this morning, AAPL attempted to save the day and issued a quick statement proclaiming January 1st as the biggest App Store spending day in history... for now the stock is not excited about that.
Chipotle December Sales Collapse; Reports Receipt Of FDA Subpoena, New Stock Buyback
Submitted by Tyler Durden on 01/06/2016 - 08:55
And the hits just keep on coming. In a double-whammy for investors hoping to catch Chipotle's falling-knife, the mexican fast-food restaurant reports a 30% collapse in same-store-sales for December and receiving a grand jury subpoena with regard the California Norovirus event. The stock crashed 10% on the news. However, the stock's initial collapse has been rescued as CMG reports a boost to its buyback program... seriously!
Trade Deficit Improves In November Despite Trade Slowdown, As "Exports Decrease Less Than Imports"
Submitted by Tyler Durden on 01/06/2016 - 08:51
The US November Trade deficit printed at $42.4 billion, down from $44.6 billion in October and better than the $44.0 billion consensus expectation. However, instead of suggesting on overall improvement, the only reason the deficit improved is because as the BEA admitted, "exports decreased less than imports", in other words, both decreased. Specifically, imports fell 1.7% in Nov. to $224.59b from $228.36b in Oct, while exports fell 0.9% in Nov. to $182.21b from $183.78b in Oct. A key driver was another decline in petroleum imports which fell $262 million to a total of $10.7 billion courtesy of the drop in oil prices.
