'Subtle Forward Guidance' - Trying To Fool The Marginal Oil Investor Everything's Under Control

So-called "forward guidance" is aimed at trying to fool the marginal investor into believing “there is no need for worry, central bankers have everything under control”. Unsurprisingly, as with all psychological conditioning, forward guidance has lost its effect as more and more market participants lose confidence in central banks and their promise that everything will eventually mean revert to happier days... However, this unfortunate practice is making in-roads into the most important of commodity markets: crude oil.

The Revolution Devours Its Own: Prosecutor Who Led Charge Against Brazil's Rouseff Was Just Arrested

Every "revolution" has it: the moment when the sequence of events unleashed by the initial decision ultimately boomerangs and takes down the very people who started the revolution. For Eduardo Cunha, who spearheaded the ouster of President Dilma Rousseff, that moment came today when he was arrested early on Wednesday as part of a sprawling graft probe involving state oil giant Petrobras.

Is This The End Of The Road For Apple's Self-Driving Car?

Apple has all but thrown in the towel on its self-driving car endeavors. Its project Titan, which was supposed to release a fully autonomous vehicle in the early years of the next decade, has been scaled back substantially and will from now on focus on developing just the self-driving software used in autonomous cars.

Norway Surveillance Photos Show Russian Aircraft Carrier Flotilla On Route To Syria

The Norwegian military has released pictures taken by surveillance aircraft of a fleet of Russian warships sailing in international waters off the coast of Norway and reported to be heading to Syria. Among the ships observed was the aircraft carrier Admiral Kuznetsov and the Pyotr Velikiy battle cruiser, on their way to join the Russian military effort in Syria.

10-Trillion-Dollar Bye-Bye - The Calm Before The Storm

"We don’t expect the current situation to end well for investors who insist on taking larger investment exposures than they’re actually willing to hold, with discipline, through a period of severe market losses. From present valuation extremes, a 40-55% market loss would represent a fairly run-of-the-mill resolution to the current market cycle... By the completion of the current cycle, I expect over $10 trillion of what investors count as paper “wealth” in U.S. equities to disappear without a trace."

Cass Freight Index Takes Another Dive Killing August's "False Hope"

It’s difficult to make a case for a great holiday sales season or robust third quarter GDP based on the Cass Freight Index which shows shipments sank 0.4% for the month and are down 3.1% from shipments a year ago. As Cass warns, the "glimmer of ‘less bad’ hope in August" was "false hope."

"There Will Be Panic"

"We’ve been in the eye of the storm since then... and it’s a huge hurricane with a big eye... they’ve papered it over with trillion of currency units... Now, as we speak, we’re moving into the trailing edge and it’s going to be much worse, much longer lasting, and much different than the unpleasantness that we experienced back in 2008..."

German City Mayor Warns Government Of "Massive Crime Problems...Blacks Are In Charge Of The Town"

As German chancellor Angela Merkel begins to wake up to what her 'open borders' policy has unleashed on the citizenry, none other than the mayor of the popular Bavarian resort of Garmisch-Partenkirchen has penned a letter to the regional government begging them to tackle the "massive problems" posed by crime rates among refugees, while police say "blacks are in charge of the town."

The WSJ Warns America: "You've Been Played"

"Mrs. Clinton, like Nixon in 1972, may not get a honeymoon no matter how big her win. The debate we aren’t having in the campaign, we will continue not to have: how to foster a modern state that doesn’t metastasize corruption, cronyism, elites helping themselves. "

Wikileaks Releases Another 1,803 Podesta Emails In Part 12 Of Data Dump; Total Is Now 18,953

The daily dump continues.  In the now traditional daily routine, one which forces the Clinton campaign to resort to ever more stark sexual scandals involving Trump to provide a media distraction, moments ago Wikileaks released yet another 1,803 emails in Part 12 of its ongoing Podesta Email dump, which brings the total number of released emails to 18,953.

How A 34 Year Old Goldman Trader Made $100 Million In A Few Months

The curious case of how a 34-year-old high-yield trader at Goldman managed to make $100mm in profits in just 6 months while somehow maintaining compliance with Dodd-Frank regulations...“It goes against everything we’ve been seeing the last three years."

WTI Crude Spikes After Major Crude Inventory Draw Trumps Production Increase

Oil held gains overnight following API's surprise crude inventory draw, DOE data surprised even more with a massive 5.247mm draw (2.1mm build exp). Cushing saw the biggest draw in 6 months but we note that Gasoline inventories rose 2.469mm barrels - the biggest build since Feb. Production rose very modestly but hovers around the 8.5mm b/d level. WTI is spiking and RBOB lagging after the print.

'Russian Hacker' Arrested In Prague Last Week, Announcement "Tactically Delayed" Until Day Of US Debate

Two days before the Obama administration formally accused the Russian government of hacking Democrats, NYTimes reports that a man identified as a "Russian hacker suspected of pursuing targets in the United States" was arrested in the Czech Republic. While the arrest was made on Oct 5th, officials stated that "we postponed the announcement for tactical reasons," which makes one wonder whether this is the debate-day-distraction Hillary needs?