Succumbing to market pressure, crude producers' group OPEC and its 10 non-OPEC allies intervened to deepen their ongoing output cuts of 1.2 million barrels per day (bpd) by another 500,000 bpd on Friday (December 6) following the conclusion of their meeting of ministers in Vienna, Austria. In a surprise for the market, OPEC revealed that bulk of the burden will largely fall on Saudi Arabia's shoulders, with the kingdom announcing it would cut "voluntarily" ...
Forward-looking highlights from GeoQuant's high-frequency political risk intelligence platform. The UK’s EU election results gave Remain sentiment a clear victory (40.4%) over hard Brexit advocates (34.9%), despite the Brexit Party’s plurality win. While this outcome raises prospects for derailing Brexit, the Conservative Party still controls parliament and remains broadly pro-Brexit, more at odds over form than outcome. The election result ...
The Bureau of Economic Analysis decreased December quarter’s GDP growth estimate from 2.6% to 2.2%. The GDP’s growth rate has now declined 200 basis points from 4.2% in the June quarter. more...
With Sterling up around 7% against the U.S dollar this year to date but down some 12% from the $1.50 level on the referendum on Britain's European Union (EU) membership in June 2016, what are the prospects for the Pound following the outcome of the 'Indicative Vote' process today in Parliament? more...
Facebook (FB) was off to a good start in 2019 even before it reported Q4 earnings last week and then jumped over 10% after beating expectations on revenues, earnings and monthly active users. Tony Mitchell, one of my managers, first bought Facebook at $16. At today's price of $169, Tony is still not selling because he sees more upside. Although Facebook is now up 22% year to date, it is still 24% off of its 52-week high of $218.62. ...
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