JJE News and Press, iPathA Series B Bloomberg Energy Subindex Total Return ETN From 01/20/23

Summary The US EIA Short Term Energy Outlook was published on January 10, 2023. I doubt Russian C+C output will fall as much as the EIA has forecast. The Canadian forecast looks much too high. A guest post by D Coyne The US EIA Short Term Energy Outlook (STEO) ...

Summary Midstream MLPs, as measured by the Solactive MLP Infrastructure Index, decreased by 4.25% last month. MLP yields remained higher than Emerging Market Bonds, Fixed Rate Preferreds, and the broad market benchmark for Investment Grade Bonds and lower than High Yield Bonds. The ...

Summary Oil prices continue to struggle as recession fears have curtailed the market is recent months. For now, the demand and supply dynamics of the physical oil market remain neutral to bearish at best. This is most true of inventories, which continue to see significant builds and exc...

Summary The Labor Department announced that the Consumer Price Index (CPI) declined -0.1% MoM in December, which was in line with economists’ consensus estimate. Core CPI rose 0.3%, but that was also in line with the economists’ consensus estimates. There is no CPI evidenc...

Summary Stocks and bonds rallied as the Fed’s Whip Inflation Now project seems to be finally bearing some fruit. The slowdown in goods spending over the last year has been modest but entirely expected and offset by a rise in services spending. The Fed has spent the last year ...

Summary Dutch front-month TTF Natural Gas Futures plunged 15% on Monday to €54.85 per megawatt-hour (MWh). The price has collapsed by 84% from the crazy spike in the summer of 2022 and is now back where it had first been in early September 2021. What spooked the European natu...

Summary December was a mixed month for commodity index strategies overall. Natural gas was the strongest commodity for most index strategies. The precious metals sector was the strongest performing sector in December, rising over 5%. Natural Gas Contributes From Rebalance ...

Summary Crude declined substantially from its mid-summer highs of $121.00, bottoming out at $70.08 per barrel in December. However, none of the major oil companies followed crude lower. Their prices remain at levels near or above where they were at the beginning of the war. Crude sh...

Summary September Non-OPEC oil production increased by 229 kb/d to 49,962 kb/d. All of the increase came from the US, 289 kb/d. September Non-OPEC oil production increased by 229 kb/d to 49,962 kb/d. All of the increase came from the US, 289 kb/d. Output is expected to reach 51,721 ...

Summary On a coincident basis, driven by a historically tight labour market and robust industrial production growth, the US economy remains deceptively strong despite negative real incomes and tight financial conditions. However, the leading indicators of the business cycle continue to ...