Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

Commodities

Natural gas is a naturally occurring hydrocarbon gas mixture consisting primarily of methane, but commonly including varying amounts of other higher alkanes, and sometimes a small percentage of carbon dioxide, nitrogen, hydrogen sulfide, or helium. It is formed when layers of decomposing plant and animal matter are exposed to intense heat and pressure supplied by existing under the surface of the Earth over millions of years. The energy that the plants originally obtained from the sun is stored in the form of chemical bonds in the gas.

<ul><li>While the sentiment around the “long US equities trade” seems to be extended and due for a correction, the bearish positioning in commodities and energy is reasonable and we also expect this trend to continue for a little while.</li><li>The latest BofA fund manager survey showed how extreme the position is currently and how little cash professional investors currently have to allocate.</li><li>FMS cash level fell from 4.3% to 3.9% of AUM, matching the lowest level since Jun '21.</li></ul>

While the sentiment around the “long US equities trade” seems to be extended and due for a correction, the bearish positioning in commodities and energy is reasonable and we also expect this trend to continue for a little while.The latest BofA fund manager survey showed how extreme the position is currently and how little cash professional investors currently have to allocate.FMS cash level fell from 4.3% to 3.9% of AUM, matching the lowest level since Jun '21.

Investors Are Max Long Stocks & Bearish Commodities

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

Equity Bottom-Up

Information Services Corporation provides registry and information services to the Province of Saskatchewan. The Company provides land titles registry, land surveys directory, personal property registry and corporate registry for individuals and businesses.

<ul><li>Information Services Corporation (TSX:ISV) is a technology services provider in Canada, founded in 2000 to manage registries in Saskatchewan</li><li>Strong Q2 results reported, market capitalization of CAD 530 million</li><li>Ambitious plan for expansion, operates in a high-quality "monopoly" business with Registry Operations accounting for 70% of EBITDA</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Information Services Corporation (TSX:ISV) is a technology services provider in Canada, founded in 2000 to manage registries in SaskatchewanStrong Q2 results reported, market capitalization of CAD 530 millionAmbitious plan for expansion, operates in a high-quality "monopoly" business with Registry Operations accounting for 70% of EBITDAThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Information Services Corp (ISV.) - Monday, Sep 23, 2024

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials. Crude oil can be refined to produce usable products such as gasoline, diesel and various forms of petrochemicals. It is a nonrenewable resource, also known as a fossil fuel, which means that it can't be replaced naturally at the rate we consume it and is therefore a limited resource.

<ul>
<li>The US oil and gas rig count remained unchanged for the second straight week at 589 for the week ending on 20/Dec.</li>
<li>For the week ending 13/Dec, US oil production moderately fell to 13.6m bpd from its record high of 13.63m bpd the week prior.</li>
<li>The number of active US oil rigs grew to 483, while the US gas rig count fell by one to 102.</li>
</ul>


The US oil and gas rig count remained unchanged for the second straight week at 589 for the week ending on 20/Dec.
For the week ending 13/Dec, US oil production moderately fell to 13.6m bpd from its record high of 13.63m bpd the week prior.
The number of active US oil rigs grew to 483, while the US gas rig count fell by one to 102.


U.S. Rig Count Remains Unchanged for the Second Consecutive Week

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Thematic (Sector/Industry)

<ul>
<li>The amount of deposits in the US banking system are substantial in absolute terms and compared with recent periods and older periods</li>
<li>Of the USD17.4tr in deposits in the US banking system, 86% is liquid, available to access</li>
<li>Alongside concerns about the S&amp;P 500 Index or the broad US stock market, we believe it is worthwhile to keep in mind the amount of depositor liquidity</li>
</ul>


The amount of deposits in the US banking system are substantial in absolute terms and compared with recent periods and older periods
Of the USD17.4tr in deposits in the US banking system, 86% is liquid, available to access
Alongside concerns about the S&amp;P 500 Index or the broad US stock market, we believe it is worthwhile to keep in mind the amount of depositor liquidity


US Stock Market - US Banks Have Total Deposits of USD17.4tr, Which Was USD3-4tr ~30 Yrs Ago

Podcast from BlackRock, The Bid

The Bid

Podcast from BlackRock

The Bid breaks down what’s happening in the world of investing and explores the forces changing the economy and finance. From stock market outlooks and megatrends to geopolitics and technology, BlackRock speaks to thought leaders and industry experts from around the globe about the biggest trends moving markets.

Cross Asset Strategy

<ul><li>Global transition to low carbon economy discussed in the second episode of the Infrastructure miniseries</li><li>Key areas of investment include electrification, renewable power plants, electric vehicle charging stations, and clean fuels</li><li>Importance of public and private investment in infrastructure to enable energy transition and decarbonization, with a focus on long-term growth opportunities like data centers and mining infrastructure</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global transition to low carbon economy discussed in the second episode of the Infrastructure miniseriesKey areas of investment include electrification, renewable power plants, electric vehicle charging stations, and clean fuelsImportance of public and private investment in infrastructure to enable energy transition and decarbonization, with a focus on long-term growth opportunities like data centers and mining infrastructureThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Infrastructure mini-series Ep 2: The Low-Carbon Transition: A $100 Trillion Infrastructure Opport...

North America
Insights on North America

Investors Are Max Long Stocks & Bearish Commodities

While the sentiment around the “long US equities trade” seems to be extended and due for a correction, the bearish positioning in commodities and...

The Commodity Report

Information Services Corp (ISV.) - Monday, Sep 23, 2024

Information Services Corporation (TSX:ISV) is a technology services provider in Canada, founded in 2000 to manage registries in Saskatchewan

Value Investors Club

U.S. Rig Count Remains Unchanged for the Second Consecutive Week

US oil and gas rig count steady at 589 for the week ending 20/Dec, as US oil drillers added one rig while US gas producers cut one rig. They added...

Mint Finance

US Stock Market - US Banks Have Total Deposits of USD17.4tr, Which Was USD3-4tr ~30 Yrs Ago

Now USD17.9tr in deposits, up from our recent note. (This is latest HFD data for all US banks). This is relevant to market concerns with possibly...

Daniel Tabbush

Infrastructure mini-series Ep 2: The Low-Carbon Transition: A $100 Trillion Infrastructure Opport...

The global transition to a low carbon economy is driving investment opportunities in new energy infrastructure, with a focus on electrification,...

The Bid

Investors Are Max Long Stocks & Bearish Commodities

While the sentiment around the “long US equities trade” seems to be extended and due for a correction, the bearish positioning in commodities and...

The Commodity Report

Information Services Corp (ISV.) - Monday, Sep 23, 2024

Information Services Corporation (TSX:ISV) is a technology services provider in Canada, founded in 2000 to manage registries in Saskatchewan

Value Investors Club

U.S. Rig Count Remains Unchanged for the Second Consecutive Week

​US oil and gas rig count steady at 589 for the week ending 20/Dec, as US oil drillers added one rig while US gas producers cut one rig. They added...

Mint Finance

US Stock Market - US Banks Have Total Deposits of USD17.4tr, Which Was USD3-4tr ~30 Yrs Ago

Now USD17.9tr in deposits, up from our recent note. (This is latest HFD data for all US banks). This is relevant to market concerns with possibly...

Daniel Tabbush

Infrastructure mini-series Ep 2: The Low-Carbon Transition: A $100 Trillion Infrastructure Opport...

The global transition to a low carbon economy is driving investment opportunities in new energy infrastructure, with a focus on electrification,...

The Bid

US oil and gas rig count steady at 589 for the week ending 20/Dec, as US oil drillers added one rig while US gas producers cut one rig. They added...