by John Galt
October 2, 2016 09:30 ET
Guess the Obama lame duck magic is wearing off (Chart courtesy of Bloomberg):
Oil is indicated to open substantially lower later today if the Middle East trading session is any indication, even though it was not throughout the entire region, the overnight and Monday trading session for equities globally could be interesting. Needless to say, the horrid economic conditions and further actions by the Saudi government which indicate that they may indeed be in greater financial trouble than publicized, along with the ongoing wars they started in Syria and Yemen, could bode poorly for the economy in the entire GCC region.