How OPEC Lost The War Against Shale, In One Chart

Goldman presents a chart which shows just as graphically how exactly OPEC lost the war against US shale: in one word: the cost curve has massively flattened and extended as a result of "shale productivity" driving oil breakeven in the US from $80 to $50-$55, in the process sweeping Saudi Arabia away from the post of global oil price setter

Microsoft Outlook Hit By Another Global Service Outage

Two weeks after a variety of online services from Microsoft suffered outages for several hours on Tuesday across Western Europe and the Eastern United States, Outlook and Hotmail appear to be having another outage across the US.  Services like Xbox Live, Outlook.com, Skype, OneDrive, and Microsoft’s Windows Store are currently not allowing users to sign into accounts.

Are U.S.-Saudi Relations Turning Sour?

Time will tell, but cries of victory in Washington by Saudi Arabian Deputy Crown Prince and Defense Minister Mohammed bin Salman seemed hollow and perhaps even apocryphal.

Venezuela Stops Publishing Money Supply Data For Obvious Reasons

More than a year after hyperinflating banana republic Venezuela stopped reporting official inflation data, Venezuela has stopped publishing money supply data, depriving the general public of the last, and best, available tool to ascertain soaring inflation in what has become the world's worst-performing economy.

Trump Warns House Republcians To Support Health Bill Or Risk Losing Their Jobs

During his visit to the Capitol, Trump singled out Freedom Caucus Chairman Mark Meadows, a Trump ally during the presidential campaign who opposes the legislation. “I think Mark Meadows will get there too,” Trump told the Freedom Caucus chairman, half-joking. “Mark, I’m coming after you.”

RBC: "We Are Seeing A Complete Breakdown In The Model"

"...the current (ongoing) breakdown in the USD is representative / driving some short-term and nascent deleveraging of legacy ‘reflation’ trades as per the sudden-death of the central bank "policy divergence" story last week - which had been the primary Dollar bull-case driver over the past year..."

Will Russiagate Backfire On The Left?

The big losers of the Russian hacking scandal may yet be those who invested all their capital in a script that turned out to based on a fairy tale. After eight months investigating the hacking and leaking of the emails of Clinton campaign chief John Podesta and the DNC, there is apparently no evidence yet of Trump collusion with Russia.

Not Just The US: UK Bans Use Of Laptops On Flights From 6 Mostly Muslim Countries

One day after the Trump administration imposed a ban for carry-on electronic devices on planes coming to the US from 10 airports in mostly Muslim countries following unspecified terrorism threats, moments ago the UK issued a similar ban, restricting the use of carry on laptops and tablets for inbound flights for flights originating in the following nations: Turkey, Lebanon, Jordan, Egypt, Tunisia, and surprisingly, Saudi Arabia.

These Are The Four Political Risks Keeping Goldman Up At Night

With political uncertainty near record highs (but equity market uncertainty near record lows), Goldman's Jan Hatzius analyzes the four biggest political risks receiving the most attention from market participants (and stand to create the most chaos if the priced for perfection market is disappointed).

Oil Pumps'n'Dumps After Russia Mentions Production Cut

It appears the weight of positioning is too much to maintain any OPEC/NOPEC jawboning. After yesterday's failure by the Saudis, Russia's comments that it "doesn't rule out extending the oil pact with OPEC" prompted an immediate algo panic buy... but seconds later that was sold into as we suspect over-extended longs are now using rips to reduce risk.

Preet Bharara Joins NYU School Of Law

Just ten days after the US Attorney for New York, Preet Bharara was fired by Donald Trump, prompting speculation if he was working on a probe of Trump himself when he was terminated and further speculation which employer would imminently retain Bharara's services, moments ago the former attorney gave the answer: he is joining the NYU School of Law.