Maleeha Bengali is CEO of MB Commodities Capital, based in London.
The FX and bond markets are trading logically, and any major news or headwind could change trend in the equity markets, and quickly.
Fed speakers are using this opportune time to posit their views.
Whether the U.S. economy warrants a rate cut at this stage of the cycle is perhaps debatable.
The best way to play this is via refining sector companies with the best earnings leverage.
The Fed can't justify a rate cut soon on the strong jobs growth data. Expect bond selling and a follow-on hit to equities.
Petroleum producing nations know supply, but can't figure out demand as U.S. shale, the China trade war and international dealing by Saudi Arabia and Russia come into play.
Trump and Xi Jinping met at the G-20 and agreed to meet and continue talks further, but nothing else was said.
The world needs to accept that relations between the U.S. and China will never be the same, and ultimately counting on the Fed to cut rates is not going to help fundamentals.
Cash is king from a risk vs. reward perspective.
The market is cheering for rates to be cut, but forgets they are being cut on the back of global growth collapsing, which is negative for risk assets.
Sign up to get started or log in to see your watchlist.
Enter a symbol above to add it to your watchlist.
A confirmation email has been sent to the address provided during registration. Please click on the appropriate link to confirm your email address.