About: lishitong
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Gold Remains Downbeat as Treasury Yields Hit Decade High
Recession fears are plaguing the markets more strongly than ever. On Wednesday, US Treasury yields hit a 14-year high, with the 10-year note hitting as high as 4.153% as of writing – the highest since 2008’s recession. Meanwhile, the 2-year yield rose by 13 basis points to 4.57%. More importantly, the 3-month rate briefly roseContinue Reading
Written on October 20, 2022 at 6:36 am
Categories: Weekly Outlook
More U-turns Foreseen From Bank of England
UK Chancellor of the Exchequer Kwasi Kwarteng made an unprecedentedly dramatic early exit from an International Monetary Fund event in Washington on Friday, with many thinking it was to return to the UK to prepare his fiscal plan. Turns out, Kwarteng was being asked to leave his post by UK Prime Minister Liz Truss, whoContinue Reading
Written on October 17, 2022 at 2:43 am
Categories: Weekly Outlook
Fed Inflation Fears and Weak Demand Outlook Weigh on Crude
On Wednesday, 12 October (GMT+3), the US Energy Information Administration (EIA) released its Short-Term Energy Outlook (SETO). Forecasts for 2023 revealed an average global oil production of 100.7 million barrels a day – down 600,000 from September’s forecast and reflecting OPEC+’s announced cuts. Oil consumption for 2023 is forecasted to be 101 million b/d –Continue Reading
Written on October 13, 2022 at 4:37 am
Categories: Weekly Outlook
Europe Has Almost Enough Gas for Winter, But IEA is Worrying About 2023
The International Energy Agency’s (IEA) executive director, Fatih Birol, has said that 90% of gas storage was full in Europe, and that bar surprises, Europe can get through the winter. 2023, however, remains in question because 2022 still saw some Russian gas being imported, as well as lower demand from China due to “sluggish economicContinue Reading
Written on October 10, 2022 at 4:31 am
Categories: Weekly Outlook
Outsized ADP Nonfarm Employment Fizzles Stock Rally give back
On Wednesday evening (GMT+3), the US ADP Nonfarm Employment data was released, clocking in at 208,000 jobs added, better than the 200,000 forecasted and August’s 185,000. While the manufacturing, natural resources, and mining industries reported a loss of 29,000 positions, huge additions in the trade, transportation, utilities; and business and professional services sectors more thanContinue Reading
Written on October 6, 2022 at 3:38 am
Categories: Weekly Outlook
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