Lots of interest in the energy sector.
The Energy ETF, XLE, cleared a 4-month high today, closing at its highest price since the 6.4 percent gap down on November 28th. It now looks headed to fill that gap at 85.15.
It may consolidate for a few days and form a nice handle, but feels squeezy and everyone seems to be tripping over themselves to get in. Or it could go down.
Took some today. Always with a stop.
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Wow! German Bund at 11 bps.
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China’s economy expanded at its slowest pace in six years in the first quarter, highlighting the challenge of finding growth drivers amid a slowdown in the key pillars of construction and manufacturing. The FT’s Gabriel Wildau reports from Shanghai.
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Martin Wolf, chief economics commentator, talks to the FT’s Michael Skapinker about China’s economic slowdown and whether there is still reason to be optimistic about its prospects.
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Nice chart in today’s WSJ. Expectations are that energy is really going to hammer earnings the next two quarters.
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