thank yuh baker…thank yuh veruh much.
not yet fren…saving that. I have to go get moar 10 year so I can 'slum it'. Promise made..promise kept
That one stays sealed until…..
o7
lb
Oil Falls to Four-Month Low as POTUS Trade Policy Jolts Markets
Oil extended declines and has now lost more than a tenth of its value in three days.
An increasingly aggressive U.S. trade policy fueled fears the world could be heading for a significant economic slowdown.
Futures in New York fell as much as 2.6% after slumping 5.5% Friday. China struck a combative tone in a white paper released Sunday, blaming the U.S. for the collapse in trade talks and saying it won’t be pressured into concessions. That came after the White House rattled markets Friday by announcing tariffs on Mexican goods and terminating India’s designation as a developing nation, stopping it from exporting products to the U.S. without duties.
Oil has now fallen around 20% from late April, wiping out about half of its rally in the earlier part of the year, mainly due the increasingly fraught global trade environment along with record-high American crude production. While a tense situation in the Middle East has been supporting prices somewhat, the White House indicated over the weekend that it would be willing to negotiate with Iran without preconditions.
“The conflict is now more than a trade war between the world’s two biggest economies,” said Takayuki Nogami, the chief economist at Japan Oil, Gas and Metals National Corp. in Tokyo. “If the U.S. wants to punish other countries, that will increase downward pressure on the global economy.”
West Texas Intermediate crude for July dropped 59 cents, or 1.1%, to $52.91 a barrel on the New York Mercantile Exchange at 9:56 a.m. in Singapore. It fell as much as $1.39 earlier to $52.11, the lowest since Jan. 29. The contract declined more than 16% last month.
Brent for August settlement fell 92 cents, or 1.5%, to $61.07 a barrel on London’s ICE Futures Europe exchange. The July contract closed 3.6% at $64.49 before expiring on Friday. The global benchmark crude was trading at a premium of $8.11 to WTI.
https://www.bloomberg.com//news/articles/2019-06-02/crude-heads-south-as-u-s-china-trade-tensions-sour-sentiment?
It's nightshift when we say it is. Barely dark where I am, but this is the way it is
Just hitting everyone with that tag aren't ya?
JPMorgan Slashes U.S. Yield Forecasts as Trade War Roils Outlook
JPMorgan Chase & Co. slashed its targets for U.S. Treasury yields, anticipating that the pressures of the trade war will hobble American economic growth and force the Federal Reserve to cut interest rates.
(they seem to be leaning towards a .50 basis point cut in September-this is a change as for a few weeks it was signalling only a .25 basis point cut.)-see cap#2
*JPMorgan sees 10-year Treasury yields at 1.75% at year-end, compared with 2.45% previously and 2.13% on Monday in Asian trading. The forecast for March is 1.65%
*The bank sees two-year yields at 1.40% in December and 1.30% in March
*The Fed is seen cutting the policy rate by a quarter point in September and December
(this is the first time I have seen this in print but pepe been tellin' y'all for weeks the first one will be in September.)
*U.S. GDP growth projected at 1% for second quarter, 1.5% in third quarter
The projections are a contrast with JPMorgan Chief Executive Officer Jamie Dimon’s warning last month that yields were already “extraordinarily low” on an historical basis, and that 4% wouldn’t be a bad number. His comments pre-dated the latest trade-war developments.
Despite their new forecasts, the bank’s strategists warned against jumping on the current Treasuries rally, saying that they maintain a neutral call for duration. “We are hesitant to initiate longs given the pace of the rally over the last two weeks and the substantial uncertainty that remains around the path forward for trade policy.”
JPMorgan’s economists highlighted the difficulty of quantifying the impact on U.S. growth from tariffs on Mexico, a trading partner which has become increasingly integrated with American supply chains over the past quarter century. Their Fed forecasts have averaged out the potential impact of scenarios on growth.
“If we are on track for Fed easing, we would expect to see deterioration in the business sentiment data, and subsequently hard activity data, beginning in early July,” the strategists wrote. “We don’t expect a material shift in the Fed’s stance at the June meeting.”
https://www.bloomberg.com/markets/fixed-income
https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html
It's pretty dry material to most people so I if can make it a bit entertaining why not?..add shit like that to the stock sale panels too.
well anon there was a report further up the bread.