We would not be shocked at all to see the bonds continue to tumble, possibly heading down to 135, if not lower. The upcoming economic data throughout the rest of the year will likely lead the bond market’s direction.
Infrastructure investment in India is a long-term theme, and is going to require a lot of raw materials and fuel sources. It's one thing to generate power; it's another thing to actually distribute that power.
The U.S. oil boom has put European refineries out of business and undercut West African crude suppliers. Now domestic drillers threaten to roil Asian markets and challenge producers in the Middle East and South America.
Yesterday marked the fifth anniversary of TransCanada's application to the U.S. State Department for the 1,700-mile pipeline from Alberta to Texas known as the Keystone pipeline, the most famous pipeline in America even though it has not been built.
While Ben Bernanke is still talking about tapering, he made it clear that his plans on tapering are not on a preset course. Oil as well is not on a preset course but at some point soon we should see oil drop about $10.