Trump announces he’s leaving his businesses:

In a series of tweets this morning, President-Elect Donald Trump announced that he would be holding a press conference in New York City on 15-Dec to discuss leaving his business “in total” in order to fully focus on running the country. Said legal documents being crafted to take him completely out of business operations, though […]

Oil up big on OPEC comments:

Oil rallying sharply today on a flurry of upbeat comments heading into the OPEC meeting in Vienna, though devil remains in the details. Saudi Arabia Oil Minister Al-Falih said there is a good chance for a deal. However, there are still concerns about a more hawkish stance from Saudi Deputy Crown Prince Mohammed bin Salman, […]

OPEC skepticism:

Lot of skepticism surrounding OPEC’s ability to finalize a preliminary production cut deal it reached in late September at tomorrow’s meeting. No meaningful progress made at a 10-hour meeting on Monday. Iran and Iraq still said to be the stumbling blocks facing a deal. In terms of the former, Bloomberg reported that it proposed a […]

OPEC uncertainty:

Oil volatile with latest flurry of OPEC headlines. Follows a ~3% selloff on Friday on news Saudi Arabia pulled out of a meeting scheduled for today between OPEC and non-OPEC producers. Meeting was subsequently canceled as Saudis highlighted need for OPEC to first reach an internal agreement on a production cut deal. Biggest development over […]

Oil higher again:

Oil higher on optimism surrounding OPEC’s ability to finalize a preliminary production cut agreement reached back in late September. Nothing particularly incremental, though a member of the Nigerian delegation said that OPEC is likely to reach a consensus over the implementation of a deal at technical meeting today. There was also some positive commentary out […]

Romney under active consideration for Secretary of State; still no decision on Treasury Secretary:

Vice President-Elect Mike Pence confirmed on Sunday that former Massachusetts Governor Mitt Romney is under “active consideration” for the Secretary of State position. Followed a meeting between President-Elect Trump and Romney, one of his fiercest GOP critics, on Saturday. South Carolina Governor Nikki Haley and former New York Mayor Rudy Giuliani reported to still be […]

Trade a big wildcard under Trump:

Post-election narrative has been dominated by reflation theme driven by expectations for near-term tax reform, deregulation and infrastructure spending. However, still a lot concern about growth headwinds from potential immigration and trade policies. Latter a widely discussed area of uncertainty. WSJ noted that inside Trump’s economic team are two very different views on trade. Pointed […]

Oil rallies on deal optimism:

Oil snapped a four-week losing streak last week, rallying over 5% on some renewed optimism surrounding the prospects for OPEC to finalize a production cut deal. Sentiment has been further underpinned by weekend commentary. WSJ noted Iranian Oil Minister Zangeneh said that OPEC is “highly likely” to reach a final agreement at its 30-Nov meeting. […]

Trump transition going smoother:

Big story early in the week was the reported chaos in the Trump transition team with talk of infighting and score-settling. However, things have calmed down in recent days, a dynamic discussed by Politico. Noted how Trump’s team has held conference calls, announced visitor to Trump Tower, revealed that “landing teams” will soon head to […]