The Sy Hersh effect: killing the messenger, ignoring the message

Goldman's Global Affairs Chief Warns Of Middle East Spillover Threats West Texas Intermediate crude futures spiked as high as $111 a barrel on Sunday evening as the deepening Middle East conflict sent panic through oil markets, with supplies from key Gulf producers going offline and the Strait of Hormuz remaining paralyzed into week two. The key question on some energy desks is whether this energy shock will force President Trump to scale back Operation Epic Fury in a TACO-style retreat by Tuesday with WTI in triple-digit territory. That is hard...

Open Sesame Submitted By Peter Tchir of Academy Securities This week’s market behavior had a mythical, almost magical tone to it. In Arabian Nights, Ali Baba was able to open a cave of riches by uttering the phrase “Open Sesame.” Markets responded to any and every sort of connotation of “The Strait is Open” by rewarding participants with riches. We started this week bright and early, kicking off Bloomberg TV, and then moving on to Bloomberg Radio, and Tom Keene’s Best Ideas. At the time we were all trying to understand what “Blockade” meant....