Commodity & Infrastructure Insights

Before there were Saudis – there were Texans. In 1948, U.S. oil production and reserves accounted for 64 percent and 34 percent of the global total. Texas was the largest U.S. producer by far, accounting for 45 percent of total U.S. production.

Earlier this month there was a fascinating exchange on Bloomberg TV between former NY Fed president Bill Dudley and journalist Jonathan Ferro. Dudley has been vocal in criticizing the slow rate at which his former FOMC colleagues have been normalizing monetary policy.

Earlier this month there was a fascinating exchange on Bloomberg TV between former NY Fed president Bill Dudley and journalist Jonathan Ferro. Dudley has been vocal in criticizing the slow rate at which his former FOMC colleagues have been normalizing monetary policy.

The energy sector, already responding to inflation in recent months, has been a clear winner from Russia’s invasion of Ukraine. Few countries in history have striven for energy independence as much as America. Having achieved it, the US is now in a position to help Europeans achieve energy security. They have no hope of energy independence, but can at least achieve more diversity of supply.

The energy sector, already responding to inflation in recent months, has been a clear winner from Russia’s invasion of Ukraine. Few countries in history have striven for energy independence as much as America. Having achieved it, the US is now in a position to help Europeans achieve energy security. They have no hope of energy independence, but can at least achieve more diversity of supply.

What’s the best shape for the yield curve? Today’s flat verging on inverted shape isn’t optimal. It suggests the market is worried that the Fed will tighten too much, causing a recession. It also makes it hard for banks to make much money extending credit, because they typically lend for longer maturities while funding themselves at the short end. With no curve there’s no positive carry.

This week we’re introducing a new series named “Four Questions With” in which we discuss topical market events with an investment professional from the Catalyst and Rational network.

This week we’re introducing a new series named “Four Questions With” in which we discuss topical market events with an investment professional from the Catalyst and Rational network.