Hawks declare more rate hikes, history and another market say not for long.
Eurodollar University
00:00
The Oil Market Is Telling You Something Important
Despite the most unfavorable supply conditions imaginable, record low inventories and production not coming at all these things, we're within a whisker of Contango on the front end of the curve anyway. And then you go out a couple more months and the spread at the backwardation level is exceedingly small for these perceived supply characteristics. So even though Contango today doesn't look to be genuine Contango for lack of a better term, the oil market is telling you something important too. The very things that James Bullard can't figure out for all his attention to the word restrictive and the useless Taylor rule, he doesn't see, well he sees the market saying, we disagree with your position on
Play episode from 18:54
Transcript
