Crude Jumps On Likely Extension of OPEC Cuts

Crude Jumps On Likely Extension of OPEC Cuts

Oil prices settled up 2% on Wednesday as traders and investors ignored a build in U.S. crude stockpiles from last week to focus on the likelihood of OPEC extending crude production cuts when it meets later this week to assess price support measures. The U.S. government’s Energy Information Administration (EIA) said domestic crude inventories rose by 4.6 million barrels for the week ended Sept. 15 as supply balances for unprocessed […]

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Bond Prices Crater as FOMC on Track For Year-End Hike

Bond Prices Crater as FOMC on Track For Year-End Hike

U.S. Treasury prices cratered on the two- and five-years with the 10-year chasing behind while the long bond outperformed (but hardly budged) following the Federal Open Market Committee (FOMC) statement. Also an influence were the Summary of Economic Projections (SEP) and plans for rate-normalization to begin in October. The two-year took the brunt of the sell-off, swinging back to the lowest levels since October 2008 as Fed Chair Janet Yellen […]

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