Who could have seen that coming?
[3]
Judging by the excitement this morning across the mainstream media, one could be forgiven for assuming WTI was trading back at $100 and everything was fixed again. However, we have seen these 'dead-cat-bounces' numerous times in the past few months and there is one way to know if professionals are buying the stability-is-here-to-stay meme or not... the credit market for energy names remains practically bidless...
Credit is not buying the bounce...
[4]
This time is diferent though...
[5]
and in a few minutes DOE releases its data...
Chart: Bloomberg
