Republic Risk: CNBC Is Locked in the 1970s

PPI came in lower than expected, but that doesn't change the fact that car insurance isn't part of this measurement. These are producer prices... NOT wholesale prices.

Equity Storm Watch Is YELLOW on the S&P 500 and YELLOW on the Russell 2000B

Futures recovered a bit this morning on news that the Producer Price Index came in at 0.2%, a figure that was lower than consensus expectations. The news comes a day after a sharp downturn turned us back to Yellow, and the pattern of lower highs and lower lows began.

While this had a positive impact on Futures, there remain challenges at the Treasury level, with interest in U.S. debt and yields continuing to climb.

We are at the onset of earnings season, but energy prices continue to rise; OPEC has projected more robust summer oil demand at a time when Middle East tensions are rising. We’re staying long in energy exposure and remain very bullish on shipping due to the expected uptick in demand this summer.

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Dear Fellow Expat: 

I woke up to this damn headline… So, why am I upset?