How The Experts Are Playing Oil Right Now
Oil -- not Santa -- is making headlines in the financial markets as Christmas approaches. The price of a barrel recently fell to a half-decade low and now rests near $60.
While much of the media's focus has been on the historic lows, how are experts actually trading off the news?
"The broader implications [if oil continues to plunge] mean that policy-makers would likely forego any early tightening of monetary policy here at home, while accelerating stimulus in other parts of the world," he told Benzinga.
"Bailouts are bullish and we would take advantage of lower prices and increased stimulus if such a scenario were to play itself out anytime soon," Insana added.
"The mantra we are hearing now is how wonderful the drop in oil prices is going to be for both the US and Global economies.
"It is great for the consumer in many ways. However this view point does overlook the extensive job loss that will happen in the US oil patch and potential devastation in high yield markets," Melvin explained.
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