Bank of America Global Research | Oil futures have collapsed by more than 60% since the start of the year, with the WTI front month contract testing $20/bbl several times in recent weeks. The dramatic decline in prices is attributable in part to the oil price war, but the primary driver has been demand. As coronavirus fears forced governments around the world to shut down their economies, demand for refined products has been hit particularly hard.
LONDON | UBS analysts | Actual reported earnings are showing strong numbers; based on reported earnings so far Q2 is one of the strongest seasons in c. 5 years.
MADRID | The Corner | The pace of Global net EPS revisions has declined in August to -6.9% from -0.6% in July, although it is more significant the 3-month net earnings revisions that has improved from -7.9% to -7.0%, according to Hugo Anaya in his comment for JP Morgan.
MADRID | The Corner | Markets are wondering where will expansion of multiples will get given this low macro volatility environment and expansionary monetary policies at the global level.