Market Share

Art Sales Tumble: Christie's Reports 38% Plunge In First Half Sales

There is yet another confirmation that the slowdown in luxury spending continues, nowhere more so than in the world of "luxury" art. As the WSJ reports, Christie said it sold $3 billion in art during the first half of the year, down a third from the same period last year. Contemporary art, long the engine of Christie’s market dominance, was hardest hit, its $788 million in auction sales down 45% from a year earlier. Sotheby's didn't fare better: the New York-based auction house said first half sales dropped a quarter from the year before

Trump 'Close Friend' Unleashes Economic Reality Check: America Is "Lost In The Black Hole Of Entitlement"

"Citizens everywhere are unhappy with their governments and angry with their leaders. They are no longer interested in a political rhetoric that they do not understand and that has no value in their lives. Monetary policy, trade policy technological disruption and the array of issues that make up globalization are simply a parade of unintelligible horribles to the average working class citizen."

Who Really Won The Oil Price War?

It is probably a tie... Although the Saudis caused damage to U.S. shale, they also hit the global oil industry hard; and while they managed to preserve their market share, they paid a heavy price in terms of oil revenues.

The Peak Oil Paradox - Revisited

Is 'Peak Oil' dead and buried forever, or is it lurking in the shadows, waiting to derail the global economy again?

The Fuel That May Halt The Electric Car Revolution

Electric cars are often touted as the nail in the coffin for gasoline-powered vehicles. However, there’s another fuel revolution in the developing world, which is changing the economics of electric cars. Whether it’s CNG, LNG, autogas, or propane, gaseous-hydrocarbon fuels turn conventional cars into dual-fuel vehicles, and limit the uptake of electric cars in these economies.

Global Stock Rally Halted In Aftermath Of Latest French Terror Attack

The tremendous rally of the past 4 days that has sent global stocks soaring in recent days has finally been capped and European shares, S&P futures are all modestly lower following a deadly terror attack in Nice, France. Meanwhile Asian stocks rose as Chinese economic data beat estimates, with Q2 GDP rising by 0.1% more than the estimated 6.6% on the back of stronger housing data.

Saudi Strategy Working: OPEC Captures Largest Market Share Since 1975

OPEC has captured its largest share of the oil market since 1975, which could be seen as a vindication of the cartel’s strategy over the past two years. But it also creates vulnerabilities for the U.S. and others, who are once again increasingly dependent on the Middle East for oil.

Is Russia Winning The Oil Export War Against The Saudis?

The European Union might be skeptical about increasing its crude supply from Russia, but China seems to be keen on receiving more Russian Crude. Russian oil exports to this part of the world have doubled year over year last April at the expense of Saudi Arabia and Iran.

Price Discovery - R.I.P.!

But the destruction of price discovery in the sovereign debt market is not simply an academic curiosity to be jawed about by the few remaining fiscal scolds in the world. To the contrary, it is already having massive toxic consequences in the arenas of fiscal governance and capital markets alike.

Yuan Tumbles, Stabilizes After Reuters Report China Willing To Weaken Currency To 6.80

The biggest macro event overnight was a report out of Reuters that China's central bank is willing to let the yuan fall to 6.8 per dollar in 2016 to support the economy, which would mean the currency matching last year's record decline of 4.5 percent. The report promptly sent the offshore yuan tumbling, sliding much as 0.72% to 6.7021 per dollar, the lowest since January 11, however it promptly recovered losses following significant PBOC intervention in the open market.

Peak Oil Consumption Dead Ahead (But Price Is Anybody's Guess)

global oil consumption is likely soon to peak (OECD to continue declining; China+Russia+Brazil to begin declining; Africa+India flatlining; the RoW the wildcard)... and all those spouting EIA estimates are likely spouting bogus information. However, this isn't just true for oil consumption but true for most commodity consumption & general consumption world over.