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The Daily Shot And Data - September 28, 2016
Article By:
Sober Look
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Wednesday, September 28, 2016 3:41 AM EDT
We see more "green shoots" in Brazil where consumer confidence, though extremely weak, is gradually recovering. There are more signs that Brazil's inflationary pressures are easing, which should result in rate cuts by the nation's central bank.
Crude Chaos Strikes: Saudis Admit "No Deal" But "Hopeful" For November
Article By:
Tyler Durden
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Tuesday, September 27, 2016 2:37 PM EDT
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.
Oil Crashes After Saudi-Iran "No Deal" Headlines
Article By:
Tyler Durden
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Tuesday, September 27, 2016 11:05 AM EDT
It appears the entire headline-hockey debacle was a farce: Saudi Arabia, Iran made no proposals during meeting: Zanganeh.
In this article: OIL
Crude Crashes As Iran Says "No Deal" After Saudi Offer
Article By:
Tyler Durden
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Tuesday, September 27, 2016 9:31 AM EDT
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.
In this article: OIL
Goldman Cuts Oil Price Target From $50 To $43 On Rising Global Surplus
Article By:
Tyler Durden
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Tuesday, September 27, 2016 8:09 AM EDT
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."
In this article: OIL
Why The Algiers Gathering Will Not Help Oil Prices
Article By:
Yohay Elam
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Monday, September 26, 2016 11:55 PM EDT
Once again, OPEC members are discussing a potential deal to lift oil prices. A total cut seems to be off the cards, but some freeze in production levels could be possible in the gathering on the sidelines of a conference in Algiers.
Your Money And Your Life
Article By:
Marvin R Clark
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Monday, September 26, 2016 7:30 PM EDT
More than 100 million Americans are expected to tune in to the presidential debate between Clinton and Trump. It is expected to run 90 minutes, no commercials. Listen closely tonight. It’s your money and your life.
Saudi Arabia Injects $5.3 Billion Into Banking System
Article By:
Andy Sutton
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Monday, September 26, 2016 12:55 PM EDT
Saudi Arabia’s central bank stepped up efforts to support lenders in the Arab world’s biggest economy as they grapple with the effects of low oil prices.
Emerging Markets: Week Ahead Preview - September 25
Article By:
Marc Chandler
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Sunday, September 25, 2016 7:00 PM EDT
Emerging markets initially benefited from the FOMC decision, but softened into the weekend. Emerging markets initially benefited from the FOMC decision, but softened into the weekend.
Saudis Offer To Cut Production By 500,000 Barrels: "The Oil Market Situation Is Much More Critical"
Article By:
Tyler Durden
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Sunday, September 25, 2016 10:41 AM EDT
Not only has OPEC failed to crush the US shale industry, which as a result of increasing efficiencies, and debt-for-equity exchanges has seen its all in production costs tumble, making even far cheaper oil prices profitable.
Emerging Markets: What Has Changed Now
Article By:
Marc Chandler
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Saturday, September 24, 2016 11:33 AM EDT
The Hungarian central bank capped the amount commercial banks can keep at its 3-month deposit facility. The end result should be lower government borrowing cost, lower lending rates, and a weaker forint.