Charts of the weekend:
US Crude Inventories . . .
Oil inventories near 50-year lows. Even though financial engineering can work for a little while on paper prices, it can’t produce “real-world assets” like oil, metals, & agriculture products.
Source: Bank of America (BofA)
CASH Assets Under Management (AUM)
Per BofA’s Global Fund Manager Survey, cash sits at 3.5% of (AUM), the “6th lowest since 1998” and below the 4.0% threshold that mechanically triggers a “sell” for global equities.
Managers are all-in this weekend trying to avoid a financial meltdown on Monday, and the tank of money they need to do that, is running on fumes.
No posts
Comments
Nothing yet. Say the first thing.
Sign in to join the conversation.