Alex Longley and Tsuyoshi Inajima, Bloomberg 5:39 am CDT, Thursday, October 25, 2018 A pumpjack operates on an oil well in the Permian Basin near Orla, Texas, on March 2, 2018. A pumpjack operates on an oil well in the Permian Basin near Orla, Texas, on March 2, 2018. Photo: Bloomberg Photo By Daniel Acker. Photo: Bloomberg Photo By Daniel Acker. Image 1 of / 1 Caption Close Image 1 of 1 A pumpjack operates on an oil well in the Permian Basin near Orla, Texas, on March 2, 2018. A pumpjack operates on an oil well in the Permian Basin near Orla, Texas, on March 2, 2018. Photo: Bloomberg Photo By Daniel Acker. Oil steadies near two-month low as equity markets rout eases 1 / 1 Back to Gallery Oil steadied near the lowest … [Read more...] about Oil steadies near two-month low as equity markets rout eases
Equities markets
Thailand taps equity market for $1.4 billion infrastructure fund
BANGKOK, Sept 28 (Reuters) - The government’s $1.4 billion Thailand Future Fund will open its books to potential investors on Oct. 12, the fund’s financial adviser said on Friday, ahead of what is expected to be the largest public listing since 2015. Thailand Future Fund Infrastructure Fund (TFFIF), the trust’s full name, expects about half of the investment it attracts to be from retail investors, the Head of Capital Markets at Phatra Securities, Anuwat Ruamsuke, told reporters. The fund’s aim is to invest in long-term projects including expressways or toll roads, railways, electricity generation and distribution, airports and deep seaports. The books will be open until Oct. 19 and the shares will begin trading on Oct. 31. TFFIF priced the shares on Thursday at 10 baht and expects to raise between 40 billion baht ($1.24 billion) to 44.7 billion baht ($1.38 billion), which would make it the largest public listing since Jasmine Broadband Internet … [Read more...] about Thailand taps equity market for $1.4 billion infrastructure fund
Ignore the Elon Musk Meltdown and Watch the TSLA Bond Market
Over the last few days, Elon Musk piled on the crazy by doubling down on his pedophile accusations against one of the British divers involved in rescuing the Thai football team that was trapped in a cave, then by smoking marijuana live on the air during a radio interview. In response, Tesla’s stock (TSLA) has been in what Forbes calls, “freefall” … but that’s not the most worrying thing. The bond price is. I’m no expert on stocks and bonds and markets, so I’ll simply quote Forbes’ Daryl Jones, below, as he seems to sum it up rather nicely. Tesla’s stock has been in freefall since Musk’s now infamous “Funding Secured” tweet about taking the company private at $420 per share. The larger concern however is in the bond market. The $1.8 billion 5.3% bonds that Tesla issued a year ago have now hit 84 cents on the dollar and are yielding 8.4%. Meanwhile, Tesla 7-year CDS (indicative of the cost to insure against … [Read more...] about Ignore the Elon Musk Meltdown and Watch the TSLA Bond Market
Jumping market jitters
IMMEDIATE gratification, immediate data and nonsense news, immediate response. The new world? The oxymoron of ‘smart' phones is lost on me. If they were smart, or as smart as a teacher, they would tell us to turn them off.I hadn't thought at all about how people use their phones in relation to investments until I recently saw them used to check up on investment values on an hour by hour basis and it dawned on me the stress that must cause, especially in light of recent market movements.For the record, I do not do that with my own money. There is no point. I would also not be around for long. What risks does excessive monitoring cause? I've heard many statements regarding markets ‘going' up, or ‘going' down. As we've mentioned before, that can often lead to knee-jerk reactions where you jump a queue at completely the wrong time, and indeed this was covered in the last quarter for the same reason.Markets never, ever use the present participle. They are never … [Read more...] about Jumping market jitters
China retaliates, slaps duties on U.S. soybeans, planes; markets skid
NEW YORK (Reuters) - China hit back quickly on Wednesday against the Trump administration’s plans to impose tariffs on $50 billion in Chinese goods, retaliating with a list of similar duties on key U.S. imports including soybeans, planes, cars, beef and chemicals. FILE PHOTO: Soybeans being sorted according to their weight and density on a gravity sorter machine at Peterson Farms Seed facility in Fargo, North Dakota, U.S., December 6, 2017. REUTERS/Dan Koeck/File Photo COMMENTS: JOHN STOLTZFUS, CHIEF INVESTMENT STRATEGIST, OPPENHEIMER ASSET MANAGEMENT, NEW YORK “At this point, when you look at the broad nature of the decline, it shows elements of a ‘tariff tantrum’ happening in the market. There’s not a trade war going on at this point. Both sides are firing shots across the bow. They’re responding to each other with heavy-handed tactics. It’s not so deep as to cause the reaction the market is taking right now. It’s … [Read more...] about China retaliates, slaps duties on U.S. soybeans, planes; markets skid