Waving or Drowning Sankey

By Paul Sankey Published on November 4, 2020 at 9:19 AM

With the first debate in late September followed by President Trump contracting COVID shortly after in early October, the market dynamic this year, in our view, has been 1) to rip off the March lows on Fed US$ printing, 2) then falter on election uncertainty and COVID resilience, then 3) resume ripping on more Fed printing, and then 4) finally, for October and Q4, increasingly price a “Blue Wave” as of October/Q4. Essentially the dynamic […]

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Morning Sankey 11/3/20

By Paul Sankey Published on November 3, 2020 at 8:49 AM

Thoughts and sympathy for the victims of terrorism in historic and noble Vienna yesterday. A city close to the heart of anyone involved in global oil. We are many; terrorists are few. Rest in Peace. A momentous day, and I am not referring to the fact that November 3rd is National Sandwich Day. Yesterday on Twitter Arjun Murti, former Goldman Sachs legendary lead oil analyst, now Warburg Pincus adviser and ConocoPhillips board member, pointed out […]

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Sunday Sankey 11/1/20

By Paul Sankey Published on November 1, 2020 at 2:02 PM

Good day, A quick note today, there are slides highlighting yesterday’s note on XOM that got a lot of traction. There was criticism for not specifically calling out Rex Tillerson, and skepticism on my bull call for refining in summer 2021. Let’s be honest, I made the call for summer 2020, and that worked great when we made the call in April. But turned out to be a disaster by May. We were a year […]

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