By Paul Sankey
Published on May 14, 2025 at 10:00 AM
Tomorrow Happy Hour we welcome back one of the hottest Strategists on Wall Street, Torsten Slok! Zoom 4pm ET. He has been causing a sensation with his widely distributed macro work for private equity giant Apollo. One question I want to ask him: how many participants did you get on your immediately-post-“Liberation Day” strategy call? A lot. My guess: 20,000? Our own Happy Hour was brilliantly timed that same week, actually a day earlier post-Tariff …
Read More
By Paul Sankey
Published on May 11, 2025 at 1:47 PM
Hello from Boston, “Hello”, he said, in a most British tone. The British are coming! Sure, the Tea Party, Independence Day. Don’t believe the hype, they are sequels. We need a Democrat Tea Party, in true Boston style, but the Democrats here are hopeless. My youngest son Harry’s full Boston graduation (Northeastern) is this evening, putting me free & clear from private education fees that are crippling. His college: $84k per year. We are leaving. …
Read More
By Paul Sankey
Published on March 6, 2025 at 8:02 AM
This is about OPEC+ AND demand, in this note we look at the latest US oil data, and tell a personal story about Elliott-for-PSX Board candidate Al Hirshberg. Using distillate (diesel) as our proxy, the fuel of transporting goods, as our proxy for economic activity, we find an abrupt and alarming change in the shape of distillate timespreads, where the fall from a smidge of backwardation has given way to outright collapse. If this is …
Read More
