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    MARKET EDGES

    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

Oil bounced, and then failed. Remember when they said that higher lows could be good for oil? Well, that’s gone now. Stay tuned … . Our immediate risk range for WTI Oil today is 46.43-51.86.

Don’t forget that most bounces were led by counter-trends: oil, Russia and junk. That’s low value bouncing.

As far as Russian equities (RTSI) are concerned, they’re getting tagged and bagged for another -5.3% loss. So much for the oil-driven bounce. And that has everything to do with deflation.

Deflation Continues to Roil the Globe - 14