This Is Why Oil Is Set To Rise In 2H 2021

The 10 year yield has fallen from 1.145% to 1.05% recently because there are some worries the government won’t pass all of Biden’s $1.9 trillion stimulus. This is just political posturing. If you knew your vote was the deciding one, you would say you don’t support it. Then the other side gives you a sweetener which causes you to ‘change your mind.’

Conclusion

Jobless claims data improved modestly. The labor market is flatlining. We think there will be close to zero jobs created in the BLS report which comes out next Friday. The oil inventory surplus is rapidly falling. We should see higher prices in the 2nd half of 2021. There is a bubble in clean energy as we are still years away from it being a major energy generator (and being profitable). Junk yields are very low. It doesn’t hurt much for a company to have a ton of debt, for now.

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