By Paul Sankey
Published on September 29, 2026 at 10:07 AM
Important note: last 24 hours we may see the beginning of a trend of weaker oil prices yet higher Treasury yields. This would be a major and concerning break of the trend of the last month of almost 1:1 postive correlation between oil prices and Treasury yields. The feeling of “something is going to break” indicator is getting to boiling point. But remember, a watched kettle never boils. ~ NFI: I did NOT get invited …
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By Paul Sankey
Published on September 27, 2026 at 6:43 PM
This morning getting coffee was a wet and blustery experience. That said, my backyard (surrounded by buildings) weather station records 0.6” rain and 20mph wind peak gust (JFK recorded a 56mph gust, but flights basically fine). Nor’Easter fake news? It is more lively out on the Brooklyn Heights Promenade for sure, and the tide is lapping as high as I have seen it along the shore in Brooklyn Bridge Park. The main observation is that …
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By Paul Sankey
Published on May 26, 2026 at 8:57 AM
As I just said to a hedge fund “this better be really, really bad” in regards to the shock announcement that Albert Manifold has been unanimously fired by the board of BP. To us, this is a disaster in terms of the concept that Manifold was fully hands-on as Chairman, in BP HQ five days a week with “only one small side project”. The concept was that Manifold’s performance at CRH would be driven into …
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