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Crude Oil & Treasury Yields Are Plunging
After a brief respite overnight, the selling of crude oil and buying of US Treasuries has resumed in the early US session.WTI is comfortably back below the $59 level and rapidly looking to test the $57 handle. Treasury yields are down 3-5bps across the complex with 30Y as low as 2.76% and 10Y 2.10%. With bond yields and crude 'oddly' correlated to the collapse in global GDP expectations (and stocks anti-correlated in their "just wait til next year" delerium), we wonder how badly this will all end.
Overnight...
Longer-term
Charts:Bloomberg
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Cheap energy to stoke the U.S. economy! Yay!!!
This is all just collateral damage in our glorious fight against those evil Rooskies.
http://y2u.be/VI6tBwVjyOY
The Russians are just the smoke screen.
Fucking spam bot.
Yep, "rates are going up"...
...any second now.
LMFAO!!!!
Go ahead Yellen; RAISE RATES! I QUADRUPLE DOG DARE YA!!!!!!
[not ... gonna ... happen]
Quadruple dog dare, damn.
Oh yeah!!! OK.....I don't know a bigger one than that.
raise rates? why bother im sure ther's a bailout coming for the shale slop crowd
2007 Revisited with an exception 300 trillion in derivatives insured by we the people wtf.
There's going to be plenty of cheap trucks, 4-wheelers and campers for sale shortly in Texas and North Dakota. I wonder how many of those toys were purchased on credit by free spending roughnecks?
Don't forget Lafayette LA the second oil world where f250's and toys galore for all
They say the economy here is only 11% oil
Bullshit
WTI price has me flummoxed and short a few monopoly bucks, but I still think equilibrium is around 75. I'm going to observe from the sidelines for now, as my gut is saying that the past 5 years pricing was all an over-inflated price driven by paper trading from banks and hedge funds and now we are seeing how low demand truly is.
Given the destruction of price discovery of the dollar itself, I don't know how anyone can use it to measure anything.
It's like nonsense squared.
Perhaps it's time to start watching oil vs. gold?
Pay attention to the actually delivery to refineries. Demand in the U.S. has come down a bit, there is enough oil in the supply line to provide some politcal cover and buy some time. once the actual movement of oil to the U.S. stops, then you need to be ready.
IMO, the MIC is going to keep draining the middle East and then target South America.
The whole Russian thing is a complete distraction. Talk to anyone who knows something about the art of war and tactics.
Can we finally just Deep Six this bitch and stick a fork in it?
I say lets go for it!
TD just called the bottom for the day!
Some hedge fund or bank algo has gone insane. Expect word on some TBT Jail bank at some point
Same as the Yen - Gold - Silver setup.
I think these types of manipulations should be a capital (as in 'head off') crime.
The Senate better pass that shit hole budget or else
--the market
The Senate holds our future in it's hands.......crap.
Saying the "right" price is $75 is like those homeowners in 07' shouting "I'm not just going to give this house away" when the low-ball offer was only 250% more than what the guy paid 5 years before.
How low can you go? http://m.youtube.com/watch?v=ox-lfowevqA
How badly this all will end?
Very badly?
https://www.youtube.com/watch?v=Z0GFRcFm-aY
But "I feel fine"
energy credit already tipped off Crude heading to 40ish and even lower.
Slightly OT: Banksters New York Slimes rag waving the pom poms for gold's role in a monetary system???? Another sign we are heading for a very major event or reset.
http://www.nytimes.com/2014/12/07/sunday-review/the-golden-age.html?_r=3
so when will the central banks start to buy oil/oil futures?
and will the people riot when they find out?
DIVE DIVE! All Fed hands to Algo terminal battle stations, don protective penny loafers, prepare to blow ballast!
We oiled some folks....
We derivatized some folks....
We algorithmed some folks....
We devastated some folks......
The risk of contagion is massive now. Same old story. http://otdon.blogspot.co.uk/2014/12/oil-crash-puts-market-on-default-ale...
FFS, start the printing preses already
Treasury "YIELD" is an oxy-moron.
If cigarettes go to $1 a pack to match gasoline at $1.50 a gallon I might have to dig out my 1980's tux because I'm going to prom again.
And with a car and lots of cigarettes, you might actually get a date this time.