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China’s Record Dumping Of US Treasuries Leaves Goldman Speechless
On Friday, alongside China’s announcement that it had bought over 600 tons of gold in “one month”, the PBOC released another very important data point: its total foreign exchange reserves, which declined by $17.3 billion to $3,694 billion. By Tyler Durden (Zero Hedge) We then put China’s change in FX reserves alongside the total Treasury holdings … Continue reading
Outflow From The Largest US Oil ETF Reached $1 Billion In April-May
The biggest U.S. exchange-traded fund (ETF) that tracks oil, the United States Oil Fund, known as USO, is heading for the largest two-month outflow in six years. Investors are worried that it could be the end of crude’s 30 percent rally. Shareholders of the USO have withdrawn almost $1 billion so far since the beginning of April, … Continue reading
Goldman Sachs: Oil Prices Could Fall To $30 A Barrel
Goldman Sachs President Gary Cohn told CNBC on Wednesday he is very concerned about the short-term window for oil. He thinks crude prices could fall to $30 a barrel. One of the major reasons is the industry runs out of storage space. With the winter heating oil season ending, refineries are turning to producing more gasoline … Continue reading
Goldman Sachs Eyes $40 Oil As Weather, Violence Enter Modeling
As Goldman Sachs looks towards a future $40 per barrel price of oil, private equity funds are building dry powder for further investments. With oil in a state of backwardation – the future price is higher than the current spot price, sometimes considered a positive sign for those wanting higher prices – Goldman Sachs Group … Continue reading
Iraq Hopeful Oil Has Hit ‘Bottom’
Oil prices should not fall below the current average of $47 a barrel, Iraq’s oil minster Adel Abdul Mahdi has stated. “Our estimate is that the prices (of oil) have reached the bottom. It is very difficult to drop lower than this,” oil minister Abdul Mahdi said at an industry conference in Kuwait Wednesday. Oil … Continue reading
Goldman Sachs, Hedge Funds Caught On Wrong Side of Swiss Franc Trade
When a central bank move surprises the elite stratosphere and top level banking executives are caught flatfooted, that in itself is news. Goldman Sachs shocked with SNB’s decision Such is apparently the case as the Goldman Sachs Group Inc (NYSE:GS) , whose alumni sit in top economic perches around the world, as the investment bank was … Continue reading
Oil Producers To Lose $1Tn If Price Below $60 – Goldman Sachs
The global oil industry will face a loss of $1 trillion as producers will be forced to cancel a number of key projects if oil prices stay below $60, says Goldman Sachs. With Brent crude losing 45 percent of its price and trading at $59.9 at 12PM MSK Tuesday, a number of once ambitious projects … Continue reading
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