Coverage Universe - Weekly Price Changes Apr 27-May 4, 2018
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Oil Prices, Interest Rates Move In Unison
Oil prices and interest rates both retreated last week, after each reached 5 year highs. The economics of supply and demand came into play for both.
Rising oil prices encouraged Russia, an OPEC supporter of convenience, to increase their contribution to global oil supply. For US 10 year government bonds, yields above 3% were enough to entice buyers. Comments this week focus on the reasons for last week's pull back for both of these key indicators, and why the simultaneous reversal is meaningful.
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