Some came away bruised. In this case big bond fund gurus, many of whom were caught off guard when Big Ben spoke a while back about easing off the QE party. But not all of these big boys got hammered.
http://online.wsj.com/article/SB10001424127887324694904578599900117934728.html
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SURPRISE?
In case you have not been paying attention, with the exception of yesterday, the price of crude is on a run, up 10 of the last 12 days. Global oil demand and higher interest rates should lead to higher future prices. Sure more supply is expected owing to increased discoveries and more fracking.
Both, however, remain subject to uncertainties, trouble in the middle-East and environmental nonsense. OPEC's clout appears on the wane. Global oil flows may soon switch directions,flowing West to East, hardly an insignificant change in more ways than just geopolitical.
Hot money is another. Oil is denominated in dollars. Speculators love it. Higher interest rate usually go with a stronger currency. That could make oil more expensive to many countries, something those EU politicians most likely don't want. Any expected recovery in the US and elsewhere will add to the demand.
Biofuels as in diluting gasoline may be facing further political pressure as the fuel versus food debate continues to heat up and ethanol additive requirements and transportation costs in the US have led to higher food prices and dealers exporting more energy overseas.
EU politicians recently voted to curtail the percentage of biofuel required in autos and trucks, a blow to the clean air freaks like Greenpeace and others. The point here is the market and many investors are gearing for one thing with all the excessive energy talk.
What they get may just be another. Clean air versus economic recovery could prove to be a hard choice for professional bureaucrats and politicos around the world.
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SICKENING
Jobs are and have been front page MSM stuff for a long while.
Given the shortage of them one would think those who have one would be more grateful. Not so according to this report.
http://blogs.wsj.com/economics/2013/07/10/work-makes-people-miserable/?KEYWORDS=work+makes
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