OPEC + meeting without a hitch. The status quo will stay. OPEC + will add 400K as planned.
This is obviously very bullish oil and oil stocks, in fact, the energy sector is one of the only sectors holding up today. This spike in yields is hurting growth and we are seeing rotation into cyclicals. In addition, it looks as though people are putting back on inflation hedges that they took off this summer. Thankfully we are positioned well and the broader market is not looking well today.
OPEC FINAL COMMINIQUE