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16.09.26 - 18:06
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Goldman, GIC Among Buyers in NSE′s $703 Million Anchor Book (Bloomberg)
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Goldman Sachs, HSBC, Fidelity and Eastspring are among major investors that participated in the anchor book of National Stock Exchange of India Ltd. before the world's busiest derivatives exchange opened its initial public offering to the public, aiming to raise as much as 226 billion rupees ($2.4 billion)....
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16.09.26 - 18:01
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What If Warsh Shocks The Market And Keeps Rates On Hold (ZeroHedge)
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What If Warsh Shocks The Market And Keeps Rates On Hold
Ahead of today's FOMC announcement at 2pm, the prevailing consensus is that Warsh will raise rates but he doesn't need to, as tariff inflation is now fading fast, the bulk of headline inflation is driven by one-time supply shocks from the Iran war which the Fed is powerless to fix, and the upcoming change to the PCE methodology will trim the YoY print by about 0.3%, suggesting that the Fed will be hiking at a time when core inflation is the lowest in years. In fact, as Goldman and many others suggested, the only reason why Warsh will hike is because the market is now certain Warsh will hike as the Fed does not want to disappoint the market and spark a rout ... thereby making a mockery of his prior statements that he won't be led by the market (we previewed all this in great detail here), to wit:
The CPI report had little impact on our inflation view but pushed market pricing of the probability of a hike to nearly 90%, which puts pressu...
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16.09.26 - 18:01
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WTI Holds Losses As Crude Production Hits Record High, SPR/Cushing Near ′Tank Bottoms′ (ZeroHedge)
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WTI Holds Losses As Crude Production Hits Record High, SPR/Cushing Near 'Tank Bottoms'
Distillates have gone vertical again and physical markets remain incredibly tight, according to Goldman's Rich Privorotsky.
Saudi's East-West pipeline disruption forced the suspension of Yanbu loadings and cancellation of some European cargoes, with European physical crude trading north of $130 in places yesterday.
Despite all that, there are reports of more visible signs of cargoes moving through the Strait.
"Iraq's seaborne crude oil exports from its southern Gulf terminals averaged 3.16 million barrels/day in the first 10 days of September, nearing the prewar levels of 3.335 million b/d recorded in February" - Platts.
But for now, the market is watching inventories...
API
Crude +7.1mm
Cushing -246k
Gasoline +1.5mm
Distillates +1.6mm
DOE
Crude -640k (-1.4mm exp)
Cushing -342k
Gasoline +794k
Distillates +1.58mm
US crude stocks drew down inventories for the ...
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16.09.26 - 17:30
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Goldman Chief US Economist: Economy Isn′t Overheating (Bloomberg)
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Goldman Sachs' David Mericle joins Bloomberg Open Interest to break down why the Fed could hike rates without committing to another move. He argues the US economy isn't overheating, inflation pressures remain manageable, and the labor market is in a healthy balance, while warning that rising oil prices could complicate the Fed's path. (Source: Bloomberg)...
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15.09.26 - 23:42
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Bolsonaro, Lula Neck-And-Neck As Brazil Markets Bet On Rightward Shift (ZeroHedge)
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Bolsonaro, Lula Neck-And-Neck As Brazil Markets Bet On Rightward Shift
Brazil's October 4 general election is around the corner and is already sparking a rally in local markets, with a presidential runoff expected on October 25.
Right-wing challenger Flávio Bolsonaro is statistically tied with socialist President Luiz Inácio Lula da Silva in potential runoff scenarios.
"Brazilian elections could not be more uncertain and competitive, as recent polls demonstrate. Voting intentions now show right-wing candidate Flávio Bolsonaro technically tied with current President Lula in a potential second-round runoff. This political shift comes as the country witnesses some of its most intense institutional noise, centered on the Supreme Court (STF) and the Banco Master case. The next important event around these developments will be the extraordinary Supreme Court session," Goldman analysts wrote in a note on Monday.
The latest Quaest survey released on Monday showed Bolsonaro at 42% and L...
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15.09.26 - 11:30
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M Stanley Turns to Forecast Fed Rate Hike (AAStocks)
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Morgan Stanley joined rival Goldman Sachs later on Monday in revising its forecast from the Federal Open Market Committee keeping interest rates unchanged on Wednesday to predicting that the US Federal Reserve will raise interest rates.Economists at Morgan Stanley led by Michael Gapen said that they believe there are arguments f......
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