Oil markets made history this week as Brent crude prices dipped below $78 to a four-year low. This comes ahead of a meeting by members of the Organization of the Petroleum Exporting Countries on Nov. 27th. Up for debate is whether or not Saudi Arabia, OPEC’s largest producer, will decide to cut production.
from Global Markets Forum Dashboard:
Ebola will not be the last global epidemic, time to hit the reset button on how we treat it – author
(Updates with current news on New York City doctor testing positive for Ebola and World Health Organization's expectations for a vaccine.)
from Expert Zone:
National agenda to bring $100 billion of domestic household savings in capital markets in next five years
(Rajiv Deep Bajaj is the Vice Chairman and Managing Director of Bajaj Capital Ltd. The views expressed in this column are his own and do not represent those of Thomson Reuters)
Details on the sale of about 30,000 bitcoin have been spare, but what can be inferred by reading through the lines is that the sale of about $18 million went a lot better than many expected - particularly those who expected to get the coins on the cheap somehow. The prevailing market rate at the end of Monday was about $639, according to Coindesk, currently the leader in the pricing world, and the chatter trickling out was that the unsuccessful bidders - including hedge fund Pantera and SecondMarket's Barry Silber, who put together a consortium of more than 40 bidders - aimed too low in one of those "Price is Right" moves but without the warmth of Bob Barker to confront you when you lose on these things.
from Full Focus:
It took almost two years to finally get the green light, but Reuters photographer Rick Wilking was given near-total access to Newmont Mining's massive series of open pit and underground gold mines in northeast Nevada – one of the largest open-pit gold mine complexes in the United States. It's an industry few see in-person – and the results are in your jewelry and in almost any electronic device you own.
Sometimes the biggest pain trade is not being in the market at all, and that's certainly the case in 2014. We're in something of a Goldilocks environment when it comes to major markets: Bank of America-Merrill Lynch laid this out pretty well in a note yesterday, noting that global equities, US stocks, emerging markets, government bonds, gold, high yield bonds and investment grade corporate are all up between 3.9 and 5.2 percent so far this year.
The ructions in China have had an interesting effect on commodities prices – good for gold, crappy for copper. And more developments in this area should be expected as the market deals with growing weakness and the threat of a deflating credit bubble coming from the massive lending to various sectors in the world's second-largest economy. Copper has been rather weak of late, but the broader CRB commodities index is actually much higher on the year. This is the biggest divergence since the eurozone debt crisis in 2011, points out Ashraf Laidi, the chief global strategist at City Index in London.