Raoul Pal @RaoulGMI Founder/CEO - Global Macro Investor and Real Vision Group, Business Cycle Economist, Investment Strategist, Economic Historian, Traveller and Rum Drinker.. Jan. 21, 2020 1 min read

Interesting juncture for oil again... if it breaks the trend, it should head back to $50. 1/

Large speculator long positions are the 2nd largest in history....2/

Volatility is sanguine...3/

And Nat Gas seems to be leading the oil price.4/

And oil is the key drive of inflation expectations...5/

And therefore 10 year bond yields...6/

And also oil and gas stocks...7/

This is definitely worth watching to see what develops as it clearly partially drives the reflation thesis.


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