This week has been quite light on major economic data releases in the U.S. and as such provided the press an overabundance of copy that needs to be filled with breaking news. Unfortunately for patient investors that would prefer filter out as much noise as possible, the pages have been filled this week with doom and gloom reports about the Brexit vote that is happening today in the U.K. Read more about Britons Cast Their Votes 06-23-16
Although we like to keep the focus of our weekly updates on recent developments in the oil and commodity markets, as well as indirect resource plays such as defense and cyber security, sometimes there are events in the broader macro economy that warrant special attention due to their potential to sway markets. In the case of Brexit it seems the market's anticipation of the negative consequences event might be far more than reality. Read more about Don't Fret About Brexit 06-16-16
The oil rally continued this week as West Texas Intermediate (WTI) Crude closed above $50 per barrel for the first time in 2016. The big news again this week came from the EIA Crude Oil Stocks, reported yesterday morning, which indicated that inventory levels had fallen another 3.23 million since last week, well below the consensus expectation of a 0.5 million barrel decline. While not the sharpest weekly decline so far this year, the latest numbers definitely have helped to set a trend in place as crude stockpiles slip further from the mid-April highs. Read more about Oil Rallies Past $50 06-09-19
In lieu of the regular weekly update, we provide a preview of the upcoming May issue of Leeb's Real World Investing, to publish early next week.
In the issue, we review several key natural resources themes, as we explain how the long-term trend in commodities remains intact. We will also review the inflation outlook for the rest of 2016, and explain how the current inflation levels appear set to rise. We will profile several ways to remain profitable to weather these stormy waters.
See the upcoming issue for details. Read more about Previewing the May Issue 05-26-16
Markets traded down following stronger economic data earlier this week and hawkish Fed official commentaries noted in the most recent Federal Reserve minutes seem to indicate a higher chance of a Fed rate increase in June. Federal Reserve Fed Funds' futures, which monitor the market's expectations of a Fed rate increase, rose to 32 percent during the last week. Read more about Fed Uncertainty 05-19-16