The US Treasury Dept just issued a statement about this issue: "chastised Europe and Japan for excessive reliance on monetary policy to revive stagnant growth, worried that a failure to use other policy tools could further undermine an already gloomy global economic outlook.
In its semiannual currency report, the U.S. Treasury Department also took China and South Korea to task over currency policies that it says hurt other trading partners including the U.S. However, the report doesn’t name any country as a currency manipulator, a designation it last used in 1994 to call out China.
The report to Congress on the exchange-rate policies of major trading partners called on policy makers “to use the full set of policy tools at their disposal,” the Treasury Department said.
“Not only has global growth failed to accelerate, but there is worry that the composition of global output is increasingly unbalanced,” it added."
Barron's Michael Kahn says that oil stocks have bottomed. He bases this on the chart action of XOP. SN, PXD, CPE He didn't mention PVA, my largest holding
Apollo just announced an 80% decline in profits Maybe they were buying debt in anticipation of the recovery of crude prices over $75
Is there a columnist writing about the correlation of oil price to political sanctions on hostile oil producing countries? I saw a NYTimes article but nothing from the financial columnists on websites such as Seeking Apha or Zacks
I think that the fracking production might be reduced and/or shut-in until oil prices go back above 80, so what oil production is left? Maybe the traditional oil stocks like OXY and CVX and XON are worth buying now? How much of the new fracking production are they exposed to?