Frontrunning: December 13

  • Democrat wins Senate seat in Alabama in blow to Trump (Reuters)
  • Capital Journal: With Alabama Loss, Trump and GOP Face Political Reckoning (WSJ)
  • Democratic Victory Stirs GOP Anxiety Over Midterm Elections (WSJ)
  • Fed Expected to Raise Rates (WSJ)

OPEC Reports Lowest Oil Output In Six Months; Fears Shale Production Surge

Keep an eye on very tightly hedged US shale producers, who after looking at today's 2 year high oil prices, have unleashed a torrent of production which will hit the market some time over the next 2-3 weeks, sending global inventories surging once again, resetting the entire production cut process from square one.

Stocks Rebound From "Bama Shock", All Eyes On Yellen's Last Rate Hike

After an early slide last night following the news that Doug Jones had defeated Republican Roy Moore in the Alabama special election, reducing the GOP's Senate majority to the absolute minimum 51-49, US equity futures have quickly rebounded and are once again in the green with the S&P index set for another record high,

Trader: UK Does Brexit Best When It Does Nothing At All

An eventual divorce agreement is looking less likely even despite negotiations taking a significant step forward recently. And, as it becomes clear that all outcomes lead to a no-deal Brexit, back-tracking entirely becomes relatively more enticing.

All Of A Sudden, Fascists Are Everywhere In Italy

"Every Italian is therefore duly warned: if next elections bring defeat to the present never-elected center-left coalition and all their 'veterans', Fascism is assured to be back in Italy, just waiting outside the door."

Toronto's Housing Bubble Is Crushing The Strip Club Industry

Until now, Canada's soaring housing prices were just another innocent asset bubble spawned by low interest rates and an endless supply of Chinese cash that needed to get laundered.  But, with Toronto's strip club industry near extinction, the severe unintended consequences of this bubble are suddenly becoming all too real...

Satellite Images Show North Korea Building New Tunnel At Nuclear-Test Site

If a recent batch of satellite images from inside North Korea are accurate, Kim Jong Un is ignoring warnings from Chinese (not to mention American and South Korean) scientists and instead pressing ahead with the country’s nuclear testing regimen at Punggye-ri, a facility situated in the country’s mountainous northeast.