During the first Trump Administration, some were smirking, some were irritated, and for others, the 2020 election could not come soon enough. The common denominator, however, was that once the then-President was voted out of the White House, the 2016–2020 period would be relegated to the margins of history books.
The OPEC secretariat have been quick to quash a media report on the cartel considering another whopping increase in supply of half a million barrels of oil as of November. While conspiracy can stalk so much of market thinking, one does wonder if this is just repetition on how ‘sources’ leak to the media of an impending output hike to measure reaction, the latter denial being ancillary and only useful if there is an overtly negative reaction.
Equities rallied yesterday as investors seemed relaxed about the possible US government shutdown, even though critical labour data will not be published in the absence of a last-minute deal to keep the government funded. During a busy afternoon for the US President, before Republicans and Democrats failed once again to come to an agreement, Donald Trump met with Israeli Prime Minister Benjamin Netanyahu.
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