Posts Tagged ‘Crude oil prices’

Another Step Closer

March 3rd, 2016 by Kurt L. Smith

Markets go up and markets go down. We all know this. We should also know that we are fortunate to live in an era in which markets have trended higher for decades. Unfortunately we now live in an age of asset bubbles with the largest bubbles of all, Stocks and Bonds, on the verge of a massive popping.

We have watched the popping of two asset bubbles over the past several years: According to Bloomberg, Precious Metals (Gold & Silver) and Oil. Gold peaked in September 2011 at $1920 an ounce, falling 45% over the following four years to a $1046 low. Silver almost touched $50 an ounce for the second time in its history and sold off to below $14. Oil peaked at $147 in 2008 but sold at $107 just nineteen months ago and below $27 last month. Markets do go up and down, but in today’s age of asset bubbles, one must be ever mindful of the tremendous downside risks that exist. (more…)

Same Old, Same Old

May 23rd, 2015 by Kurt L. Smith

Times, they may be a changin’, but it is difficult to tell by watching the bond market. New issues usually dominate bond market news and that continues to be the case. Corporate bond issuance continues on a tear while municipal bond issuance focuses on refinancings. Interest rates remain low. (more…)

Buy The Euro; Enjoy Your Trip

February 6th, 2015 by Kurt L. Smith

Hot on the heels of a plunge in oil prices, the Euro has quickly reached a twelve year low. From 140 in May 2014 to 111 last month, like the price plunge in oil from $107 in June 2014 to $44 last month, we have no idea of the economic disruptions that are now under way. (more…)

Considerable Time Over

January 8th, 2015 by Kurt L. Smith

Long-time readers know we have been waiting for expected change in the bond markets for a…considerable time. After all, we are in year three of a bond bear market, yet all we seem to hear from bond market participants are interest rates should remain low for a considerable time…until they no longer do. (more…)

Bigger Than A Tax Cut

December 8th, 2014 by Kurt L. Smith

In a low growth world, where demand is seemingly flat and supply seemingly available, how is it the price of oil has fallen over fifty dollars per barrel in less than six months? From $107 in June to $64 in December, crude oil prices have tumbled. This is not good news. (more…)

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