Anticipation
The S&P 500 rose nearly 1.5% and the NASDAQ rallied over twice that amount all in a week when, if anything, the economic data continued to deteriorate. Of course, the market and the economy are not the same thing especially in the short term so it isn’t that surprising to see them diverge. It is often .. read more
Who are the Commodity Speculators?
New CFTC chief Gary Gensler is hot on the trail of the evil speculators he and other politicians believe are to blame for the rise in oil prices last year. It appears that some kind of new position limits will be imposed. So who exactly are these evil speculators and why are they buying commodities? Sept. .. read more
Blaming the Messenger
Commodity speculation is in the news again. The Obama version of the CFTC is apparently about to issue a report blaming the volatility of oil prices on “index speculators” (via Market Watch): Speculators’ index trading is “creating price disruptions for producers and consumers,” said Sen. Carl Levin, D-Mich., late last month after the release of .. read more
