While the election is underway bulls are perhaps more interested in ECB policies going forward. Thus far, the ECB has only agreed to take over supervision of the EU’s banks which is still a controversy for many members, especially Germany. But its monetary policy investors are most anxious about as discord over whether to QE or not QE are significant.
Markets were weak overall today as Saudi Arabia continued to cut prices driving oil prices lower. As long term investors should be happy that long-term drilling policies are now paying off harming the cartel’s ability to control prices. The consumer is the beneficiary while oil producers domestically have seen prices shrink. But vertically integrated companies find a cheaper product helps the refining side of their business.
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