Oil Production …globally looks to be returning to the upside as OPEC, Russia and other countries will contemplate adjustments at their next meeting on June 22nd.  The signatories to the cutbacks that began in 2017 have succeeded in eliminating “excess” global inventories.  Not only has economic mismanagement hit Venezuelan (and…

Macro: Americas   US Economy in Q1 2018 increased by a 2.3% annualized rate – not as good as first projected but recent history has the first quarter underperforming so not too much of a surprise. The survey pegged growth at +2.0% so it did beat expectations.  The Atlanta Federal…

Reciprocal Tariffs between the US and China are still on the table but negotiations are under way – it is too early to tell the results. Pressure has been applied by both sides, with China banning/cancelling US soybean purchases in preference for other locations as well as harassment of US…

Macro: Americas   US Economy is moving forward at a modest pace, with the Q4 2017 estimate increased slightly from +2.5% to +2.9% (annualized) at the most recent update largely on better than forecasted consumer spending but with small contributions across many areas. On the other hand, the Atlanta Federal…