Tues, Feb 16, 16
08:45 ET Update: [Stockboardasset] S&P futures +200bps
08:45 ET Update: [Stockboardasset] Nikkei +293bps
08:45 ET Update: [Stockboardasset]FTSE100 +62bps DAX -65bps
Global equities remain in a sustained rout as global economies are fighting a commodity, currency, and interest rate war. Front and center is OPEC announcing a production freeze with its major producers. Rumors over the past week were calling for production cuts, which spiked WTI from the 26 to 31 handle. WTI is stabilizing as schizophrenic Goldman Sachs revises their WTI to not much downside is left. US Equities revive their high correlation to WTI .925 on a 300min scale. Unprecedented geopolitics are unfolding as the Turkish Military is shelling into Syria. The Saudi’s are conducting the largest military drill in the Middle East called North Thunder involving more than 20 countries. How timely, the Middle East nations are standing behind Saudi Arabia as the Russian’s and Assad run a much in Syria advancing the most in the multi year conflict.