"Fuck all these skewed polls. The debate didn't matter, and it didn't change anyone's mind..Trump should have been hammering the Clintons (that's right, Hillary and Bill) on putting Wall Street in change of America's economy, but he spent far too much time defending himself...Trump needs to paint the Clintons as the tag team that gave the country away to the banksters, and forced 76% of Americans into living a paycheck to paycheck lives..."
Having failed completely to consumate a freeze deal in Algiers, the Saudi oil minister throws out a bone of hope to crude bulls that November's OPEC meeting may see a freeze deal. Crude is testing its lows of the day but bouncing around like Hillary's eyes as the minister desperately tries to keep the dream alive.
And sure enough, as we noted yesterday, the Saudi "cut" offer that juiced crude yesterday was nothing but a strawman to enable them to pinpoint blame on Iran for the failure of talks. Unwilling to freeze its output - even based on the 'offer' of Saudi cuts - Iran's Bijan Zanganeh exclaimed "it’s not our agenda to reach agreement in these two days," blowing a hole in the hope train for crude's recovery.
While we await every new headline out of Algiers, overnight Goldman threw in the towel on its "transitory" oil market bullishness, and in a note by Damien Courvalin looking "Beyond Algiers, Weakening Oil Fundamentals", the bank cut its Q4 oil price target from $50 to $43, as the bank admits the previously anticipated rebalancing will take longer to achieve, and now expects "a global surplus of 400 kb/d in 4Q16 vs. a 300 kb/d draw previously."
A rally in global risk that started during last night's first presidential debate on the market's take that Hillary came out on top fizzled, following news that the DOJ is assessing how big a criminal fine it can extract from Volkswagen (-3.8%) over emissions-cheating "without putting the German carmaker out of business", while Iran's oil minister Zanganeh told reporters Iran is ununwilling to freeze output at current levels. Deutsche Bank dropped to a new all time low while its default risk hit fresh record highs.
Global hedge fund tycoon and political provocateur George Soros is leading a war of symbols, namely flags and banners either resurrected or conjured up by his myriad non-profit groups, to stir religious, racial, and ethnic tensions the world over.
In a stunning allegation, one which would lead to dramatic gepolitical implications, the speaker of the People's Council of Syria said on Monday that the Syrian intelligence possesses an audio recording of conversation between Islamic State terrorists and the US military.
Saudi Arabia's government has decided to curb to some financial perks for public sector employees, according to a live broadcast of the cabinet's weekly meeting. "The cabinet has decided to stop and cancel some bonuses and financial benefits," read a line of text on Ekhbariya TV, as a minister read to assembled ministers and royals, including King Salman, a list of cuts to be made in various grades in the civil service.
Two short weeks ago, we exposed the gaping difference between Amazon reader reviews of Hillary Clinton's "Stronger Together" book (14% 5-Stars) and Donald Trump's "Great Again" book (74% 5-Stars) as The New York Times describedClinton's propaganda as a "flop." So, as with everything else in this 'new normal rigged' world, something had to be done and WaPo-owner Jeff Bezos' Amazon reviews appear to have been 'tweaked' - more than doubling Hillary's top reviews.
Saudi Arabia offered to cut its oil output to January levels, as OPEC members seek ways to stabilize crude prices at talks this week in Algiers.“Saudi Arabia is ready to freeze production at the January level,” Boutarfa said, calling the offer “an interesting step.” Saudi Arabia pumped a record 10.69 million barrels a day in August compared with 10.2 million in January, suggesting the Saudis are willing to cut total output by half a million barrels.
It has been a day of Friday afternoon surprises: just one hour after Ted Cruz pretended to endorse Donald Trump when he really meant don't vote for Hillary, president Obama denied what all American citizens demanded - and got - after both chambers unanimously passed the Sept 11 law several weeks ago, when he decided to veto the Justice Against Sponsors of Terrorism Act bill.