WTI Pops Despite Biggest Cushing Inventory Build Since 2008

With OPEC behind us, perhaps the market's focus will swing back to fundamentals (as opposed to headlines) and following last week's huge build across products, API reported the second week in a row of crude inventory draws (bigger than the expected 1.37mm drop). However, Gasoline and Distillates saw major builds but Cushing inventories rose over 4mm barrels - the most since 2008. WTI seemed to focus on the crude draw at first...

Trader Exclaims "Markets Are In An Alternate Universe"

"This has been a momentum-driven market rather than one driven by well-reasoned fundamental analysis... It’s amazing what pseudo-intellectual havoc can be caused by a couple hundred points bounce in the markets..."

Is Trump Calling Out Xi Jinping?

Across Asia, every capital is waiting to see how Xi Jinping responds, for a matter of face would seem to be involved.

Not Remotely Data Dependent

Should the FOMC “hike” in December, it will again have nothing to do with economy or recovery.

Trump Sold All His Stocks In June

Donald Trump sold all of his shares in companies in June, according to a Trump spokesman, a move that would have raised substantial cash ahead of the presidential election and could ease concerns about potential conflicts of interest.

Watch Ron Paul Ask If Trump Can Leash Pentagon "Mad Dog" Mattis: Live Feed

President-elect Trump's choice of Gen. James Mattis to be Defense Secretary has raised more than a few eyebrows. Not only as a military officer in a traditionally civilian position, but also as an executive in a leading defense contractor. His views on Iran are also considered extreme and not grounded in reality. Ron Paul asks "Will the mad dog be leashed?" in the following live discussion...

Tony Blair Warns "Fragile" Western Democracies Are In "Peril"

"There is immense amount of anger at established ways of doing things.  There is, I think, a whole group of people who feel ignored by those in power, that is for sure true. There is more anger around in politics than for a long time.  In Europe, we have systems that are at a point of fragility that troubles me."

Fitch Cuts Outlook For Italian Banks To Negative Due To High Bad Debt, Referendum Vote Risks

Moments ago Fitch added some more fuel to the Italian bank fire when it announce it has changed its outlook on Italian banks to negative, a reflection of "its increased vulnerability to shocks following the asset-quality deterioration in legacy portfolios. A step-up in pressure from authorities and market participants on the sector to reduce the very high levels of impaired loans has increased urgency and risks for Italian banks"