Global   Recession Warnings came fast and furious in September with the OECD cutting 2019 GDP growth by -0.3% to +2.9% for the year, the IMF reducing growth to +3.2% and IHS Markit’s Purchasing Managers’ Index (PMI) indicating contractions in manufacturing in a majority of countries. OECD 2020 projections look…

Global Oil Production Cut by 5% and Market Yawned:   To be fair, the oil market did react on the attack by Iran (or its proxies) on Saudi Arabia’s largest oil blending facility at Abqaiq: prices moved up almost 15% over the weekend from $54.85 to $62.90 per barrel.  However,…

During the month of September, the top 3 performing sectors were: Softs (4.75%), Grains (4.19%) and Livestock (3.40%). Cocoa, coffee and sugar led way in softs and grains rallied off USDA crop inspections late in the month. The bottom 3 sectors were: Metals (-1.40%), Interest Rates (-0.87%) and Energies (-0.74%).…

Americas   US Economic Data showed a slightly slowing Q2 GDP growth at +2.0% annualized, and the Atlanta branch of the Federal Reserve forecasted only a +1.5% annualized rate for Q3 on lower trade and business investment. Payrolls grew at +130,000 for August, lower than expected despite a 25,000 boost…