[stock-ticker]
STATE DEPT. THREATENS TERROR ATTACKS IN RUSSIA IF MOSCOW KEEPS FIGHTING ISIS
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A (Significant) Tale Of Two Banks
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SPX: 1987 vs. 2016
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OPEC Agrees to Cut Oil Production, but Some Members Will Still Produce “at Maximum Levels that Make Sense”
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Why You Should Ignore The OPEC Production Cut Hype
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Morning Note September 29, 2016

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Thursday, Sept 29, 16

 

SPX Flat, Dollar Up, Crude Down

Prior session, OPEC announced a “preliminary deal” of production cuts without providing any actual details of who would cut. The proposal in OPEC terms was “informal” and won’t be decided on until Vienna, which is two months away.

Russia is excluded from the deal who as of yesterday smashes post Soviet oil supply record. Quite comically, after the informal meeting Iraq headlines: OIL MIN REJECTS OPEC SECONDARY-SOURCES OIL OUTPUT ESTIMATE.

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The Senate Rejects The President’s Veto, The Stage Has Been Set
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Analyst Talks about Kondratiev
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Crude, Distillates Draw with production down tick. Gasoline Builds Largest in 4 Months
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Morning Note September 28, 2016

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Wed, Sept 28, 16

SPX Flat, Dollar Up, Crude Up

Overnight US future equity indexes are flat with risk on sentiment in Europe. Deutsche Bank CEO tries to calm the markets telling global investors everything is “fine”. Weakness developed in Asia and especially in Japan with the Nikkei down -130bps. US events calendar has durable goods at 8:30am and 10:30am EIA Inventories. Beyond regular events, Yellen will appear before a Congressional committee then shortly after 4 Fed Speakers will commence throughout the day. The excessive nature of the FED to convince participants their system works shows true colors of desperation. Algiers meeting will wrap up today with a non-event expected.

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