Oil markets were dominated by Morgan Stanley, Goldman Sachs, JP Morgan, and other investment banks with their own proprietary trading operations and an army of participants on both sides of the trade. But now they’ve abandoned the oil market.
The same people who almost destroyed the global economy with their financial toxins and who corrupted the basic pricing mechanism of just about every commodity market will be entrusted to determine the price of the water.
Natural gas ‘exporters’ took in billions, stocks soared fabulously. Alas, there isn’t enough US natural gas to export. How could this happen? Consensual hallucination.
Investors’ forecasts of rate hikes are well below those by Fed governors. “And it wouldn’t be good” if the gap gets closed “with great rapidity,” frets Fed Governor Lacker.
Tech companies are on a white-hot acquisition binge, swallowing anything that isn’t nailed down. But layoffs have started soaring. And it’s getting worse.
