Daily Highlights: 11.13.09

  • Asian stocks fall, government bonds rally as oil drops; Yuan forwards rise.
  • China this year rejected requests to build 47 projects worth 200B to curb excessive capacity.
  • Copper prices falls as dollar gains for second day, stockpiles at six-month high.
  • Dollar falls versus Krone, Aussie; Europe GDP growth optimism spurs yield demand.
  • European Stocks Advance; Richemont, British Airways, Iberia Shares climb
  • Eurozone out of recession after 0.4% growth
  • FHA reserves fall below legal limit

Guest Post: Goldman’s Global Oil Scam Passes the 50 Madoff Mark

Goldman Sachs, Morgan Stanley, BP, TOT, Shell, DB and Societe General founded the Intercontinental Exchange in 2000. ICE is an online commodities and futures marketplace. It is outside the US and operates free from the constraints of US laws. The exchange was set up to facilitate "dark pool" trading in the commodities markets. Billions of dollars are being placed on oil futures contracts at the ICE and the beauty of this scam is that they NEVER take delivery, per se. They just ratchet up the price with leveraged speculation using your TARP money. This year alone they ratcheted up the global cost of oil from $40 to $80 per barrel.

Daily Highlights: 11.10.09

  • Asian stocks, currencies climb as reports show demand spurred by stimulus.
  • China to overlook calls for stronger yuan as exports fall, researchers say.
  • China's house prices rise at fastest pace in 14 months, government says.
  • EU objects to Oracle's takeover of Sun.
  • Japan's government is set to reach a decision on a rescue package for Japan Airlines.
  • OPEC sees signs of oil demand in the U.S.
  • Advanta Corp. files for bankruptcy, may turn over its banking unit to regulators.
Cheeky Bastard's picture

Saudi Arabia has been a long time number one supplier of crude oil to the US. But as recent data shows the historical trend hit a reversal and not only have the KSA oil exports to the US fallen, they have fallen so much that the present number represents less than half of the number which denominated the KSA exported US oil from its peak in 2008. The number now denominates a 22-year low.

Daily Highlights: 10.27.09

  • Asian stocks fall on commodity price decline, Hong Kong's property curbs.
  • China sees faster production gains in fourth quarter.
  • China state fund investing $500 million in Canada-based coal miner in Mongolia.
  • Dollar falls as China Output report sparks demand for high-yielding assets.
  • EU approves Pepsi bottlers merger, no concerns of dominance in Europe.
  • Euro rises to $1.4905 in European morning trade.
  • Milk glut has dairy farmers killing hundreds of thousands of cows to reduce demand.

The Ongoing Plight of the "Nightcrawler'

I'll let Rasputin do the talking for me today, on the ongoing drama surrounding the U.S. Dollar, otherwise referred to as the "U.S. Nightcrawler". Apparently, the Fed is willing an able to monetize more rotten Cabela's bait and hook receivables, more breast implant and liposuction receivables, 0% Best Buy LCD TV receivables, etc. from the bleeding private label bagholders. No wonder the U.S. Dollar is taking a drubbing.

Confidential Memos Indicate Oil SDR Pricing Shift Would Be "Most Damaging" To United States And Precipitate "Serious Market Reaction"

Two formerly confidential memos from the Carter administration highlight the dangers posed by shifting from dollar to SDR denominated oil, to the US economy, and its primary driving force: the US middle class. Arguably the worst president in US history, Jimmy Carter, managed to avoid this transition. The question now is whether the current administration fails where even President Carter succeeded, and what the cost to the US economy, and world trade, ultimately will be as the dollar is sacrificed at the Wall Street altar.

asiablues's picture

You may recall that the crude spread gap opened just a few weeks after Lehman Brothers failed and AIG required a capital infusion. During the super contago phase of late 2008 and early 2009, the spread was so ridiculously wide that the rate of return was close to 70% at one point of time.
Those few who had a role in taking advantage of the super contango ended up boosting the spot oil price back to a more normal relationship to the outer months.

Daily Highlights: 9.9.09

  • Asian stocks fall on share sales; Alibaba slumps as Chairman pares stake.
  • China looking at investing part of its $300B sovereign-wealth fund in US realty.
  • China plans first offering of yuan sovereign debt outside mainland China, in Hong Kong.
  • China's steel output rises 2% as state spending spurs demand.
  • Euro rises toward 9-month high versus Dollar on speculation of recovery.
  • Japan to hike fees it pays to aluminum producers by 53% - highest in 14 yrs.
  • OPEC Committee to recommend keeping quotas unchanged: Kuwait Minister.

Daily Highlights: 9.8.09

  • Asian markets were mostly higher Tuesday; Taiwan up 1.2% on Cabinet reshuffle.
  • China plans to offer 6B yuan ($879M) of government bonds in Hong Kong
  • China showcases commercial jet at Asia air show
  • China 2009 vehicle sales may rise 28% on stimulus, probably surpassing US.
  • ECB says significant contraction in euro-zone economy has ended; rates unchanged.
  • G-20 finance chiefs propose banks curb bonuses, increase capital holdings.
asiablues's picture

The market's upward momentum this year has hordes of investors still looking for opportunities with good entry points. With crude prices hovering around the $70/bbl range, even with reduced demand, oilfield services remains one of the more promising sectors still with room to grow.