The National: What a global recession would mean for Opec
The inversion of the bond yield curve last week is not a good omen for the oil market.
Roman soothsayers would look for omens in the flight of eagles or the entrails of sacrificed animals, before advising whether to fight a battle. The inversion of the bond yield curve on Wednesday, often a harbinger of recession, is clearly not a good omen for the oil market. But should the oil exporters step up their campaign to protect prices, or retreat?
The yield-curve inversion, where short-term bond yields exceed long-term ones, has predicted US recessions since 1956, but the recessions themselves have followed between three and eleven months later. Some analysts downplay this warning because of special circumstances – worldwide central bank rate cuts, a secular fall in inflation and population growth – but there are always special circumstances.
Read more ....
WNU Editor: The market is dictating what OPEC must do. And for the moment it is to try and keep the status quo.
from War News Updates https://ift.tt/2KHpW1O
Subscribe to:
Post Comments (Atom)
Five takeaways from Melania Trump's new book
The book discusses abortion rights, her first date with Trump and the first assassination attempt. from BBC News https://ift.tt/8fJOFup
-
NATO Secretary General Jens Stoltenberg speaks with Senator John McCain on Capitol Hill in 2016. NATO photo CNBC: NATO is considering na...
-
Footage posted to social media shows chaotic scenes in Senegal's capital, Dakar. from BBC News https://ift.tt/4LItBfF
-
DAKAR, Dec 17 (IPS) - Masters of Laws student Khoudia Ndiaye will graduate from Senegal's University Cheikh Anta Diop (UCAD) next year....
No comments:
Post a Comment