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Summary The first half of the year saw GDP contract slightly and GDI expand slightly, and I interpret that as little to no growth. The money market futures I follow and the market based models I track all put the peak in rates somewhere between March and June of next year. I d...
Summary Core CPI, excludes food and energy, rose from July's year-over-year reading of 5.9% to a YoY rate of 6.3% in August. FedEx reported dismal earnings on Friday sending the stock down 21%. A large part of the economic data seems to be indicating the economy is slowing. ...
Summary Officials at the world's major central banks, led by the US Fed, grew increasingly united in their resolve to bring inflation under control. The August about-face pulled the Europe ex UK and both US Russell indexes back down to the bottom of the performance ranks for the y...
Summary The Middle East oil embargo of 1973 spurred the creation of the Strategic Petroleum Reserve, or SPR, to safeguard U.S. national energy security against such events in the future. The Strategic Petroleum Reserve has dropped from over 612 million barrels to under 445 million...
Summary Recent U.S. legislation alters the trajectory of GHG emissions and expands the opportunity set for midstream issuers. The bill enhances and expands the incentives for a diverse array of investments, enabling decarbonization across the U.S. economy. The strength of IRA ...
Summary With inflation at the highest level in decades and volatility continuing to surge, equity investors are questioning their next moves. At the beginning of the year, financial conditions were very loose by any means historically, and we've very rapidly moved from loose finan...
Summary The cost of developing upstream oil and gas assets, as tracked by the IHS Markit Upstream Capital Costs Index (UCCI), increased by over 7% in the first half of 2022. The rising in costs was driven by several factors: the conflict between Russia and Ukraine (leading to risi...
Summary Billions of consumers around the world are seeing higher oil prices seep into the cost of living and wages. If large and sustained, oil price shocks could fuel persistent rises in inflation and inflation expectations, which should be countered by a monetary policy response...
Summary Oil prices have seen three straight months of price declines and are down more than 30% from their relative high in June, but energy stocks have been relatively resilient, particularly MLPs. Much of the weakness in oil prices has been driven by demand concerns related to t...
Summary Near-term hydrocarbon markets remain tight, stemming from Russia/Ukraine, but long-term oil prices are being driven lower by additional emerging factors. Recessionary fears in the U.S. and Europe, continued COVID disruptions impacting Chinese demand, and Russian barrels re...
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Barclays Bank PLC ZC SP ETN REDEEM 18/04/2041 USD 50 - 06740P221 Company Name:
OLEM Stock Symbol:
NYSE Market:
Barclays Bank PLC (“Barclays”) announced today that it plans to change the ticker for its iPath ® Pure Beta Crude Oil ETNs (the “ETNs”) which are currently listed on the New York Stock Exchange under the ticker symbol “OLEM”. The current and...
Barclays Bank PLC (“Barclays” or the “Issuer”) announced a temporary reduction of the minimum early redemption size of certain series of ETNs as specified in the table below (together, the “ETNs”). Currently holders of the ETNs are required to redeem...