Gold managed a breakout to a fresh high at $1779 on Wednesday last week. It is the highest level reached by this precious metal in nearly 8 years. …read more […]
The precious metals miners took a beating when COVID first reared its ugly head in the US in March. …read more […]
Crude oil prices dropped below $43 at the end of this week as growing concerns on the resurgence of COVID-19 cases in major economies around the world strengthened concerns that global energy demand growth could freeze. …read more […]
(Bloomberg Opinion) — Beaches, clear blue seas, scorching temperatures and long days. Forget the Caribbean, your next summer beach holiday could be on the shores of Russia’s Arctic Ocean.Temperatures at Nizhnyaya Pesha, some 840 miles (1,352 kilometers) northeast of Moscow and just 12 miles from Arctic Ocean coast, reached 86 degrees Fahrenheit (24 degrees Celsius) in early June — a disaster for anyone worried about the planet’s future. Further to the east and further inland, things got even hotter. Russia’s state weather authority confirmed that the temperature at the small town of Verkhoyansk — which sits about 70 miles north …read more […]
(Bloomberg) — Crude oil is the world’s most important commodity, but it’s worthless without a refinery turning it into the products that people actually use: gasoline, diesel, jet-fuel and petrochemicals for plastics. And the world’s refining industry today is in pain like never before.“Refining margins are absolutely catastrophic,” Patrick Pouyanne, the head of Europe’s top oil refining group Total SA, told investors last month, echoing a widely held view among executives, traders and analysts.What happens to the oil refining industry at this juncture will have ripple effects across the rest of the energy industry. The multi-billion-dollar plants employ thousands of …read more […]
Singapore’s High Court has appointed an independent supervisor to oversee the restructuring of trader Hontop Energy. The move came after Malaysian lender CIMB, its biggest creditor, raised concerns about what it described as ‘suspicious’ deals involving oil major BP , according to an affidavit filed with the court this week and reviewed by Reuters. Hontop, the trading arm of Chinese independent refiner China Wanda Holding Group Co Ltd, is one of four commodity trading firms in Singapore which ran into financial trouble as the oil price crashed. …read more […]
Mortgage rates fall to a new record low, bringing sub-3% into play. Concerns over COVID-19 and its impact on the economy led rates downwards. …read more […]
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […] …read more […]
At the end of February we announced the arrival of the first US recession since 2009 and we predicted that the market will decline by at least 20% in (see why hell is coming). In these volatile markets we scrutinize hedge fund filings to get a reading on which direction each stock might be going. […] …read more […]
(Bloomberg) — Western investors piling into gold in the pandemic are more than making up for a collapse in demand for physical metal from traditional retail buyers in China and India, helping push prices to an eight-year high.Inflows into exchange-traded funds this year –- mostly in North America and Europe –- are already inches away from the annual record set in 2009, according to data compiled by Bloomberg. Meanwhile, demand in China and India, the world’s two biggest buyers of gold bars, coins and jewelry, plunged after the coronavirus stalled imports and emptied malls. Sales have been slow to return …read more […]
(Bloomberg) — A Chinese quant-trading firm made 108% this year by selling every stock bought the previous day.Zhang Ruiqi, the 34-year-old chairman of Shenzhen Qianhai United Fortune Fund Management Co., screens about a dozen mainland-listed stocks every day for their turnover, momentum and volatility. He then does it all over again the following day. That strategy, which he calls the “all-in-all-out” method, helped his flagship $5 million fund gain 108% this year through June, according to data provider Simuwang.com.Rather than pick stocks based on their earnings prospects or dividends, quantitative stock funds typically rely on complex and proprietary mathematical models …read more […]
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