Oil’s Recovery Looks Fragile to Goldman Sachs as Supplies Return
The recovery in oil, which has rallied 80 percent from lows reached in February, remains “fragile” as disrupted supplies return to market and prolong a global surplus, according to Goldman Sachs Group Inc. Canadian output halted by wildfires is resuming, OPEC members are pumping more than expected and the price rebound may revive shale drilling in the U.S., the bank said in a report. Goldman maintained its forecast that U.S. crude will trade at $49 a barrel in three months’ time. “We continue […]
“But these findings embody more than numbers — they also are a symbol of the American spirit,” Giving USA Foundation Chair W. Keith Curtis said. “It’s heartening that people really do want to make a difference, and they’re supporting the causes that matter to them. Americans are embracing philanthropy at a higher level than ever before.”
Risk appetite fell to its lowest level in four years, consistent with recession, although growth and profit expectations hit a six-month high and inflation expectations a one-year high, BAML's global fund manager survey showed.
The press release didn't specifically mention the BUDD-e, Volkswagen's electric concept van, which was built to show off the company's Modular Electric Toolkit (abbreviated MEB in German). In January, Volkswagen's head of electronic development, Dr. Volkmar Tanneberger, told Car Magazine that a car very much like the BUDD-e would hit production in 2020.
CITI: Negative interest rates are 'experimental procedures' that are 'utterly misguided'
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Citi FX has released a scathing assessment of negative interest rate policies being implemented by central banks, describing the widespread economic experiment as the equivalent of letting doctors carry out untested surgical techniques on every patient in a hospital.
In a brief note sent to clients on Thursday night, Citi analyst Gregory Marks provides a brutal analysis of the policies, which are currently being implemented by, among others, the European Central Bank, Bank of Japan, and Sweden's Riksbank.
He invokes what he calls the "Havenstein experience" to attack the policy, basically arguing that we shouldn't trust the decisions of central bankers just because they are in a position of power.
