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Thursday, August 31, 2023

Oil Closes At Second Highest Level Of 2023 Amid Plunging Oil Inventories

 WTI prices just closed at the second highest level of 2023, up 2.5% at $83.64...

... because, as John Kemp notes, among other things U.S. commercial crude oil inventories have depleted by 34 million barrels since the middle of July, contributing to a sense the market is tightening and driving a recovery in spot prices and calendar spreads.

Some more details:

Commercial crude inventories have declined in five of the most recent six weeks, according to surveys conducted by the U.S. Energy Information Administration.

Commercial crude has accounted for all the drawdown in total inventories over the same period, which have fallen by just 19 million barrels since July 14, with products up by 12 million and strategic stocks up by 3 million.

As a result, commercial crude stocks were just +1 million barrels (+0.3% or +0.02 standard deviations) above the prior ten-year seasonal average on August 25.

The surplus had narrowed from a recent high of +22 million barrels (+5% or +0.37 standard deviations) on July 14.

The recent drawdown has reversed a previous accumulation that had seen the surplus swelling since the end of April.

In consequence, front-month U.S. crude futures prices have risen by almost $7 per barrel (9%) since July 14 and almost $15 (22%) from the recent low on June 27.

Anticipating, accelerating and amplifying the decline in stocks and rise in prices, hedge funds increased their position in U.S. crude futures and options to 134 million barrels on August 22, up from just 46 million on June 27.

CUSHING DRAINED

The drawdown in inventories has especially drained stocks from tank farms clustered around Cushing in Oklahoma, the delivery point for the NYMEX U.S. crude futures contract.

Cushing crude inventories have declined in five of the most recent six weeks by a total of 9 million barrels (-24%) since July 14. Cushing stocks were -12 million barrels (-29% or -0.81 standard deviations) below the prior 10-year average on August 25 having been less than -1 million barrels (-2% or -0.06 standard deviations) below on June 30.

Reflecting the lower level of stocks, the three-month calendar spread in U.S. crude futures tightened to a backwardation of $1.14 per barrel on August 25 up from a small contango in late June.

The drawdown in U.S. crude inventories has coincided with additional production cuts by Saudi Arabia and Russia totalling around 75 million barrels during July and August.

Saudi Arabia has also been steering its crude exports away from North by raising official selling prices for buyers in the United States much higher than for refiners in Asia.

GLOBAL MARKET PROXY

U.S. crude and other petroleum inventories are the most visible part of the global oil market because they are reported weekly with a minimal delay compared with monthly reporting with much longer lags for other countries.

Traders and investors often treat changes in U.S. inventories as a proxy for changes in the production-consumption balance at global level.

Persistent inventory depletion in the United States is usually interpreted as a sign the global market is running a deficit, causing spot prices and spreads to rise.

For the same reason, any oil producer, trader or investor wanting to initiate a rapid increase in prices and spreads is likely to focus on reducing visible inventories in the United States rather than less visible stocks in Europe and Asia.

U.S. NET CRUDE IMPORTS

U.S. net crude oil imports remain subdued despite the depletion of inventories with exports continuing to run at a relatively fast rate while imports stay low.

Net crude imports averaged just 2.9 million barrels per day in August based on an average of the preliminary weekly data during the month.

Net imports had increased slightly from 2.7 million b/d in the same month in 2022 but were down from 3.2 million b/d in 2021 and 4.2 million b/d in 2019.

U.S. STRATEGIC RELEASES

The U.S. Department of Energy released almost 26 million barrels of crude from the Strategic Petroleum Reserve (SPR) in the first six months of 2023 and had released total of 247 million barrels since the start of 2022.

Releases contributed to downward pressure on both spot prices and calendar spreads by increasing the amount of oil readily available to traders and refiners.

The Biden administration directed them to offset any shortage of oil and upward pressure on prices as a result of Russia's invasion of Ukraine and the U.S. and EU sanctions imposed in response.

But the releases were essentially completed by the end of June and the department has since added almost 3 million barrels to the SPR, part of its plan to gradually refill the stockpile when prices are relatively low.

The shift from strategic inventory liquidation to accumulation has further tightened the availability of crude in the commercial market and added to upward pressure on prices and spreads.

https://www.zerohedge.com/markets/oil-closes-second-highest-level-2023-amid-plunging-oil-inventories

September Needs New Buyers To Keep Rebound Going

 By Jan-Patrick Barnert, Bloomberg markets live reporter and strategist

August has played out largely as expected, with equities recording a familiar seasonal slump. But don’t get too excited about September, either: historical charts suggest it’s a time of frailty for stocks. Add to that underwhelming trading volumes and a reluctance right now among dip buyers to stick their necks out.

The Stoxx Europe 600 Index did stray from the script a little this month, trimming its losses half way through with some help from supportive economic data. Fans of statistical and seasonal patterns might want to stay on the side of caution, however, given that September shows a weak average performance over almost every historical time frame ranging from five to 30 years.

While the bounce from this month’s drop of as much as 5.5% in the index looks solid for the moment, it’s not yet clear that investors are convinced by the recent bottom. And if they aren’t, the latest move higher might be met with fresh selling given that the benchmark has struggled to break out of its sideways range since May.

This summer’s trading volumes are among the lowest in recent years and some of the support the market received this year from systematical buyers and short covering looks to have faded. “The August pullback was more due to buyers’ strike than a broad de-risking,” notes Barclays strategist Emmanuel Cau. “Positioning hasn’t reduced much.” Still, the rotation to cash, bonds and defensives indicates caution and the tailwind from investors being underweight is “largely gone,” he says.

Are buyside and fundamental investors ready to act on an improving interest-rates and economic outlook and spend some more of the money they’ve kept sidelined on riskier assets? “The honest answer is no, not yet,” says Axa Chief Investment Officer Chris Iggo. “There is not much that is clearly good value,” he says, adding that “cash continues to be attractive” with investors preoccupied by the complexity of US growth, inflation and the impact of policy.

With no shortage of data points to study in the quest to decipher what lies ahead for stocks, the focus is clearly on inflation and economic growth. However, UBS Global Wealth reminds us that the consumer is also a factor not to forget. “Our take is that the US consumer, and therefore the economy, should remain fairly resilient well into 2024,” says Mark Haefele, its chief investment officer. “But monetary policy is restrictive, and this will weigh on consumer spending and growth in the coming quarters.”

With the buzz of excitement around AI quietening and this year’s broad re-risking rally seeming to have run its course against a backdrop of data uncertainty, picking quality stocks has emerged as the best option for many in the market. August, indeed, has served up a clear defensive footprint with miners, autos and industrial goods all falling 5% and more during the wider market’s second-biggest pullback of 2023.

There’s a similar picture when slicing equities by factors, with styles like quality, size and dividends outperforming growth, volatility and leverage.

“Easy gains from normalization in positioning are behind us,” is how Cau at Barclays sums it up.

https://www.zerohedge.com/markets/september-needs-new-buyers-keep-rebound-going

23andMe gets OK to report more cancer risks

 Shares of 23andMe Holding Co. (ME) jumped 23% in the extended session Thursday after the genetics and biopharmaceutical company said that the U.S. Food and Drug Administration has cleared it to add more gene variants to the company's direct-to-consumer health reports on genetic risks for certain cancers. The 41 gene variants in question are associated with higher risk for breast, ovarian, prostate, pancreatic, and potentially other cancers, 23andMe said. The company received the first FDA authorization for its direct-to-consumer genetic test for cancer risk in 2018 to report only three variants, mostly found in people of Ashkenazi Jewish descent. "Many of the 41 BRCA variants added through this clearance are known to have a higher rate of occurrence in populations traditionally underserved by genetic testing, including the African American and Hispanic/Latino communities," the company said. "We continue to be the first and only company with FDA clearance to provide genetic information on cancer risk directly to consumers, without a prescription," Chief Executive Anne Wojcicki said in a statement. The company plans to release the report update by the end of fiscal 2024. As with other genetic health-risk reports, people will have to specifically opt in to receive the information, and the report will include an educational component, the company said. Shares of 23andMe ended the regular trading day down 19%.

https://www.morningstar.com/news/marketwatch/202308311185/23andme-stock-rallies-more-than-23-after-genetics-company-gets-ok-to-report-more-cancer-risks

Fed Warns of “Financial Stability Vulnerability" Due to Leveraged Treasury Short Positions

 Hedge funds and asset managers are in opposite camps, with leverage, posing risk of an accident.

Hedge Fund Basis Trade ‘Probably’ Back and Posing Risk

Bloomberg reports Hedge Fund Basis Trade ‘Probably’ Back and Posing Risk, Fed Says

Hedge funds have “probably” increased their positions in highly leveraged Treasury basis trades, posing a risk to financial stability, according to a research paper published by the Federal Reserve.

Even the US central bank can only guess at the magnitude of basis trades — which exploit price differences between Treasury futures contracts and the notes and bonds eligible for delivery.

The need to unwind basis trades during the global flight to safety at the onset of the pandemic contributed to instability in the Treasury market, regulators have concluded. At the time, massive volatility in bond futures sparked margin calls and contributed to the Fed’s decision to pledge trillions in stimulus.

“The Treasury basis trade is large enough for the Fed to be aware that if it does overtighten by withdrawing too much liquidity, it could cause an accident in the system,” Emons wrote in a Thursday note to clients.

Hedge Funds and Asset Managers in Opposite Camps

Recent Developments in Hedge Funds’ Treasury Futures and Repo Positions: Is the Basis Trade “Back”?

The Federal Reserve Board of Governors comments on Recent Developments in Hedge Funds’ Treasury Futures, asking Is the Cash Futures Basis Trade “Back”?

In short, the answer is “probably”, at least to some degree. The cash-futures basis trade is an arbitrage trade that involves a short Treasury futures position, a long Treasury cash position, and borrowing in the repo market to finance the trade and provide leverage.2 This trade presents a financial stability vulnerability because the trade is generally highly leveraged and is exposed to both changes in futures margins and changes in repo spreads

One hallmark of hedge funds’ basis trade positions in 2018 and 2019 involved substantial short positions in Treasury futures contracts.

Figure 3 [lead image] shows that hedge funds’ short futures positions in the 2-year, 5-year, and 10-year contracts have increased by $411 billion between October 4th, 2022 and May 9th, 2023, reaching a total of nearly $715 billion, only $35 billion shy of the previous high of $750 billion in July 2019.

One notable difference between the current rise in short futures and the 2018–2019 period is the much larger growth in the 10-year contract, and comparatively lower growth in the 2-year contract (although as discussed in the conclusion, the most recent data suggests 2-year short futures have also risen dramatically). Figure 4 [below] shows the rise in hedge fund short futures positions separately for the 2-year, 5-year, and 10-year contracts, alongside the growth in long futures positions held by asset managers.

Should these positions represent basis trades, sustained large exposures by hedge funds present a financial stability vulnerability. While the contribution of sales from the basis trade to March 2020 Treasury market liquidity remains debated, several papers suggest that absent prompt intervention by the Federal Reserve, the situation may have been far worse

Without prompt intervention by the Fed in March of 2020 “the situation may have been far worse.”

The Fed intervened to help the market. Gee who coudda thunk?

Meanwhile, Consumers Go on a Spending Spree in July, but Income Doesn’t Match

Increased leverage is everywhere.

https://mishtalk.com/economics/fed-warns-of-financial-stability-vulnerability-due-to-leveraged-treasury-short-positions/

Unlocking the Secrets of Brown Fat

 Brown fat, or thermogenic adipose tissue, appears to act as a "nutrient sink," consuming glucose and lactate, among other metabolites, say US researchers in a mouse study that supports its potential role in tackling obesity and even cancer.

David A. Guertin, PhD

The research, published recently in Nature Metabolism, was led by David A. Guertin, PhD, Program in Molecular Medicine, UMass Chan Medical School, Worcester, Massachusetts.

To find out more about the study, its clinical implications, and whether the results are translatable to humans, Medscape Medical News caught up with Guertin, asking him to explain some of the concepts behind the research.

What is adaptive thermogenesis, and why is it important in temperature regulation?

Adaptive thermogenesis is a physiologic process that occurs in a special type of fat cell, called a brown adipocyte, in which intracellular stored lipids and nutrients taken up from the blood are catabolized to generate heat.

The heat generated by these thermogenic adipocytes is critical for warming the blood and maintaining body temperature in cold environments, and is especially critical in human infants and small mammals, which are more sensitive to low temperatures.

The process is stimulated by the sympathetic nervous system, especially in response to feeling cold, but it can be activated by other stresses as well.

While adaptative thermogenesis is also called nonshivering thermogenesis to distinguish it from muscle shivering, both means of generating heat can work together to maintain body temperature.

Why is it considered a potential target for obesity?

Adult humans have brown adipocytes in specific locations in the body called brown adipose tissues (BAT) or, more simply, "brown fat."

Intriguingly, clinical data show that the more BAT you have, the more likely you are to be protected against cardiometabolic disorders associated with obesity.

Since obesity results from an imbalance between energy intake and energy expenditure, one model proposes that brown adipocytes rebalance this formula by expending the excess energy (calories) as heat rather than storing it.

This has been referred to as the "nutrient sink" model, and the ability to activate this process therapeutically is a very attractive antiobesity strategy.

Why was it important to understand which circulating metabolites BAT uses for thermogenesis?

It is still not clear why brown fat is so beneficial for human health, and thus there is strong rationale for understanding its metabolism and how it cooperates with other tissues in the body.

For example, prior to our work, the field lacked a broad quantitative picture of how much any individual nutrient from the blood was used by brown fat, or which specific nutrients brown fat prefers to use to make heat — such as lipids, glucose, amino acids, etc. Knowing this information helps us identify more precise strategies to activate brown fat.

In addition, circulating metabolites sometimes also have messenger functions, similar to those of hormones, that stimulate physiologic processes such as adaptative thermogenesis. Highly metabolic tissues also put metabolites back into the blood, which can send messages to the brain and other tissues.

We don't have a lot of information yet on how brown fat might engage in these processes, and so our study also aimed at finding these special metabolite messengers. 

You found that glucose and lactate predominate as BAT fuel sources. What does that tell us?

The major fuels used by brown fat have been debated for a long time.

Our study suggests that BAT in mice mainly prefers glucose, and lactate, which is generated from glucose. On one hand, this shows us that thermogenic adipocytes may be especially useful in treating hyperglycemia, or even tumors, by reducing the amount of circulating glucose.

It also tells us that we need to focus more on why brown fat needs so much glucose. Other studies suggest that glucose is not just used as a fuel to generate heat but also may have other important functions in keeping brown adipocytes active and healthy.

We need to know that information so that therapeutic strategies targeting brown adipocytes can be optimized to have the best chance of success.

It's worth noting that we did our study in mice which had free access to food. If the mice were fasting, they would use more lipids from the blood to supplement for the lack of available glucose, but we think that a baseline amount of glucose is still necessary.

What could be the clinical implications of your results if replicated in humans?

They suggest that glucose is an important resource that thermogenic adipocytes cannot do without, and moreover, that glucose is more than just a carbon source.

Resolving those other functions of glucose may provide insight into mechanisms to stimulate these cells or help explain why overweight or obese people who are insulin resistant have less brown fat activity, as insulin stimulates glucose uptake.

Beyond glucose, if any of these other metabolites made or released by brown fat have beneficial messenger functions, there may be ways to pharmacologically mimic them.

How easily do you think your findings could be applied to humans?

On a fundamental level, the basic cellular mechanisms that drive adaptative thermogenesis are likely the same between mice and humans, but the wiring to the sympathetic nervous system is a bit different.

This is why it's important to look deeply at brown fat metabolism in mouse models to find pathways fundamental to the basic mechanisms of adaptative thermogenesis in both mice and humans, which could reveal unique therapeutic opportunities.

Another big challenge with comparing humans and mice is that humans typically keep their environment warm, so their brown fat is not that active.

In contrast, mice are often raised their entire lives in a facility kept at room temperature, around 22 °C (72 °F). While comfortable for the humans working with them, it's cold for a small mouse, and so mice live with constantly active brown fat.

We can change the mouse environment to alter mouse brown fat activity, but that can't be done with people. This makes comparative studies difficult.

Nevertheless, studies have shown that people who live in cold climates often have more brown fat, and, conversely, mice raised in warmer environments have brown fat that looks a lot more like human brown fat.

What further research do you have planned, or are looking forward to, in this area?

This is the most fun part of what we do, and I've been fortunate to have an amazing team passionately working on these questions.

One is to figure out why glucose is so important for these fascinating cells, which will keep us busy for years. We also need to modify the dietary conditions to determine whether the body prioritizes the use of glucose for adaptive thermogenesis even when there isn't much available.

Another goal is to test whether any of the other metabolites we identified have bioactive functions. We also discovered a unique role for glutamine metabolism in brown fat, through the consumption of amino acids, that we haven't yet resolved.

Finally, we want to understand how and why brown fat protects other organs from metabolic diseases, and we are just at the tip of the iceberg here.

The study was funded by the National Institute of Diabetes and Digestive and Kidney Diseases; the National Institute on Alcohol Abuse and Alcoholism; the National Heart, Lung, & Blood Institute; the National Institutes of Health; the AASLD Foundation Pinnacle Research Award in Liver Disease; the Edward Mallinckrodt, Jr. Foundation Award; and the Basic Science Research Program of the Ministry of Education (South Korea).

No relevant financial relationships were disclosed.

https://www.medscape.com/viewarticle/995913

Explosive Anger Isn't Just a 'Bad Attitude,' but a Symptom

 This is a true story. 

I went to high school with a guy named Frankie. He was a hothead – always in trouble because he couldn't control his temper. Sassing teachers, getting into fights – there may have even been a few run-ins with the law. We called him Frankie the Fuse, but never to his face.

Jump ahead 20 years. I'm at a minor-league baseball game, and sitting across the aisle is none other than Frankie the Fuse. He looks at me, I look at him, and soon we're fast friends again. By the end of the game, we've made plans to golf the following weekend.

And so began what would become a tortuous and ultimately ill-fated renewal of our relationship. Even though Frankie was pushing 40, his fuse hadn't grown any longer. During our first round of golf, he duffed a chip shot, unleashed a string of curses, and threw his wedge into a pond. On other outings, he bent a 5-iron around a tree and cracked the windshield on our cart with his fist. If we were paired with golfers we didn't know, I'd have to take them aside beforehand and warn them of Frankie's outbursts.

Finally, things got so bad I started inventing excuses when he called or emailed until he got the hint. 

The Age of the Jerk?

Everyone gets frustrated, upset, and angry. It's even normal to yell, curse, throw things, or beat up a cushion now and then. But some people, like Frankie, can get out of control. 

Judging from news reports and my social media feed, the number of "Frankies" in the world seems to be multiplying. Maybe we're getting angrier as a society, or perhaps we're just less inhibited about acting out.

We've all seen videos of road rage, or someone on an airplane yelling at a flight attendant, or an irate customer busting up a fast-food restaurant. 

I used to think these people were just jerks, but it turns out these angry outbursts may be caused by a little-known psychological condition called intermittent explosive disorder, or IED. Those who have it may not realize they have it or that it can be treated.

In the last few decades, science has been steadily unraveling IED, and in the most recent version of the Diagnostic and Statistical Manual of Mental Disorders (DSM5), there's a whole section on it. (The fact that it shares an acronym with improvised explosive device is an unintended but convenient coincidence, experts contend.) 

The disorder is more than being "quick to anger," said Michael McCloskey, PhD, a professor of psychology and neuroscience at Temple University and a leading IED researcher. "When they get angry, they act out aggressively – yelling and screaming, breaking things, and getting into physical altercations." 

That reaction is out of proportion to the trigger, he said. "For example, if someone tries to punch you and you punch them back, that's not IED. But if someone says they don't like what you're wearing and you punch them, that could be indicative."

About 1 in 25 (or 13.5 million) Americans have the disorder, said Emil Coccaro, MD, the vice chair of research in the Department of Psychiatry and Behavioral Health at Ohio State University and the recognized world expert on IED.

"We don't have any data on whether it's increasing or not," he said. "But clearly life is faster paced, people feel more stressed, and that could be promoting it." Or we're just seeing more incidents because everyone has a cellphone now, or the DSM5 entry makes diagnosis easier.

About 80% of those with IED are untreated, said Coccaro. (To my knowledge, Frankie never sought help for his angry outbursts and probably never heard of IED. But when I described his behavior to the experts, they agreed he probably has it.)

 

The Science of Anger

There are two things happening in the brain that are believed to cause this type of reaction. Coccaro points out that aggression is an evolutionary necessity. We need a defense mechanism to protect ourselves from threats. So, when a threat is perceived, "the amygdala, which is the reptilian part of our brain, kicks in to trigger either a fight or flight response," he explained. "But in people with IED, the amygdala reacts more quickly and strongly. Their fuse is shorter."

"Overly aggressive people tend to have lower levels of brain serotonin function," Coccaro said. This naturally occurring chemical messenger, among other jobs, works to ease aggression. "Think of serotonin as your braking system," he said. If your brake fluid is low, you won't be able to stop.

People with IED don't plan to have their outbursts. They just happen. Nor do they typically use them to manipulate or intimidate others. (That would be antisocial or psychopathic behavior.) Rather they simply misperceive threats and then can't control their reaction to those threats. They snap. 

But they're not oblivious to their behavior. Although they may not apologize directly, "they feel the impact it has on their family and friends and how it's alienating them," said McCloskey. "It's not something they enjoy. They're distressed by it."

IED tends to be a bit more common in men. Males are typically more physically aggressive, while women with IED are more verbally so. IED is most common among those in their teens, 20s, and 30s, after which it gradually eases with age, although the threat of an outburst always remains.

Research hasn't determined if any jobs or socioeconomic conditions make people more likely to have IED, but genes certainly can. "The more severe the manifestation of aggression, the more genetic influence underlies that aggression," said Coccaro. That influence is less strong (mid-20%) for verbal aggression, stronger (mid-30%) for hitting things, and strongest (mid-40%) for hitting others. 

Learning also plays a role. It's not uncommon for people with IED to have been raised in angry households with violent parents. 

Another potential cause of IED is inflammation, which also plays a role in other behavioral disorders, such as depressionschizophrenia, and bipolar. "There's some research with cats that show when you introduce inflammatory molecules to their brains, they become more aggressive," said Coccaro. IED can also result from a head strike that damages the brain's temporal lobe, where the amygdala is located. 

We don't yet know whether anger outbursts, left untreated, can get more severe. In other words, can years of tantrums lead to an especially violent outburst – toward others or oneself? 

"We don't know if it progresses like that," said Coccaro, "but we do know that about 20% of people with IED attempt suicide or some other form of self-harm." And alcohol or drugs can make people more sensitive to provocation and more uncontrolled in their outbursts. IED could lead to domestic violence, but the experts we spoke with don't connect it to mass shootings. Those are planned, while IED is spontaneous.

Getting Help

Fortunately, there are ways to manage IED. 

The first is cognitive behavioral therapy, the classic form of psychotherapy used to treat common behavior problems. "We teach patients how to tell if their perception of an anger-inducing situation is based in fact and then how to not act out aggressively. This type of therapy has been shown to reduce aggression by 50% or more over 12 weeks," said McCloskey.

The second treatment, which can be combined with the first, is medication. "Serotonin reuptake inhibitors have been shown to be effective," said Coccaro. These antidepressant-type drugs improve the behavioral braking system mentioned earlier. Anti-epileptic drugs also appear to have some benefit.

McCloskey's lab is also working on a new computer intervention that shows some promise in treating aggression. It teaches coping skills by having people view threatening and nonthreatening words or pictures on a screen. "Technology could make treatment more accessible and more engaging," he said. 

These treatments require the patient to realize (or be convinced) that they need help. As with alcoholism or drug addiction, that's not an easy threshold to cross. 

"We all have our defense systems," said Jon Grant, MD, a professor of psychiatry and behavioral neuroscience at the University of Chicago. "It's easier to blame others than ourselves."

And if you encounter someone raging? "Don't tell them to calm down or try to reason with them, just walk away and get to a position of safety," he said. "And don't video them. That's insensitive. There's no reason to make them a topic of ridicule or embarrassment. In fact, if they see you filming them, they might get angrier." 

But later, when they've settled down, Grant recommends talking with them. "Say listen, you just threw your club into a pond, and you scared the hell out of me. I'm not going to play golf with you anymore if you continue to do this." Season the ultimatum with sympathy. Say you'd like to understand better why they react this way and ask if you can help.

"Most people think it's just bad behavior, and the person who's acting out needs an attitude adjustment," said Coccaro. "But the truth is, there's lots of biological evidence that IED is a real thing. It's not simply an attitude."

"It takes a brave person to admit to this disorder," said Grant. "Even though many athletes, celebrities, and politicians probably [have] it, no one is stepping forward as the poster child." 

Depression evokes sympathy, but aggression scares us, Grant said. "And when someone admits to abuse, we automatically want to give our attention to the victim, not the abuser."

Should We Let Our Rage Out?

You may have heard of rage, anger, or smash rooms. These are commercial places you can go and, for a fee, destroy computers, furniture, mannequins, or just about anything you'd like. The theory is that venting your anger in a controlled setting is better and safer than letting it out in the real world.

"If you don't have an aggression problem, it's probably just good fun," said McCloskey. "But if you do, then it's unlikely that it'll be an effective strategy for managing it. All it's doing is reinforcing the way to approach a problem is to act out aggressively."

"There's also a concept called 'acquired capability,'" he continued. "If you get more comfortable with a behavior and it becomes part of your repertoire, then you're more likely to do it."

McCloskey stressed that anger is a normal human emotion and expressing that anger (within limits) can be healthy. Occasional small acts of excessive aggression are normal. But if it goes beyond that, get help. 

"What's interesting about all this," said McCloskey, "is that people with depression or anxiety will say, 'Oh, I get treatment for that.' But people with IED tend to think, 'I'm just an aggressive person, and there's nothing that can be done about it.' That's just not true."

 

Sources

Michael McCloskey, PhD, professor of psychology and neuroscience, Temple University.

Emil Coccaro, MD, vice chair of research, Department of Psychiatry and Behavioral Health, Ohio State University.

Jon Grant, MD, professor of psychiatry and behavioral neuroscience, University of Chicago. 

https://www.medscape.com/s/viewarticle/996032

1 in 5 Men Are Carriers of High-Risk HPV

 Findings from a meta-analysis of 65 studies conducted in 35 countries indicate that nearly a third of men older than 15 years are infected with human papillomavirus (HPV), and 1 in 5 are carriers of high-risk HPV (HR-HPV). These estimates provide further weight to arguments in favor of vaccinating boys against HPV to prevent certain types of cancer.

"Our results support that sexually active men, regardless of age, are an important reservoir of HPV genital infection," wrote the authors. "These estimates emphasize the importance of incorporating men into comprehensive HPV prevention strategies to reduce HPV-related morbidity and mortality in men and ultimately achieve elimination of cervical cancer and other HPV-related diseases."

Literature Review

HPV infection is the most common sexually transmitted viral infection worldwide. More than 200 HPV types can be transmitted sexually, and at least 12 types are oncogenic. Previous studies have shown that most sexually active men and women acquire at least one genital HPV infection during their lifetime.

Although most HPV infections are asymptomatic, they can lead to cancer. Indeed, HPV is involved in the development of cervical, vulval, and vaginal cancers, as well as oropharyngeal and anal cancers, which also affect the male population. More than 25% of cancers caused by HPV occur in men.

Despite these observations, fewer epidemiologic studies have assessed HPV infection in men than in women. To determine the prevalence of HPV infection in the male population, Laia Bruni, MD, MPH, PhD, an epidemiologist at the Catalan Institute of Oncology in Barcelona, Spain, and her colleagues collated data from 65 studies conducted in 35 countries pertaining to males older than 15 years.

In this literature review, the researchers selected studies that reported infection rates in males without HPV-related symptoms. Studies conducted exclusively in populations that were considered at increased risk for sexually transmitted infections (STIs) were excluded. Overall, the analysis included close to 45,000 men.

Prevalent HPV Genotype

Testing for HPV was conducted on samples collected from the anus and genitals. The results show a global pooled prevalence of HPV infection in males older than 15 years of 31% for any HPV and 21% for HR-HPV. One of these viruses, HPV-16, was the most prevalent HPV genotype (5% prevalence).

HPV prevalence was highest among young adults. It stabilized and decreased from age 50 years. Between ages 25 and 29 years, 35% of men are infected with HPV. It should be noted that prevalence is already high in the youngest group, reaching 28% in males between the ages of 15 and 19 years. The variations are similar for HR-HPV infections.

This age-related change is different from rates in women. Among the female population, HPV prevalence peaks soon after first sexual activity and declines with age, with a slight rebound after ages 50–55 years (ie, often after or around the time of menopause), wrote the researchers.

The results also show country- and region-based disparities. The pooled prevalence for any HPV was highest in Sub-Saharan Africa (37%), followed by Europe and Northern America (36%). The lowest prevalence was in East and Southeast Asia (15%). Here again, the trends are similar with high-risk HPV.

Preventive Measures

"Our study draws attention to the high prevalence, ranging from 20% to 30% for HR-HPV in men across most regions, and the need for strengthening HPV prevention within overall STI control efforts," wrote the authors.

"Future epidemiological studies are needed to monitor trends in prevalence in men, especially considering the roll-out of HPV vaccination in girls and young women and that many countries are beginning to vaccinate boys."

In France, the HPV vaccination program was extended in 2021 to include all boys between the ages of 11 and 14 years (two-dose schedule), with a catch-up course in males up to age 19 years (three-dose schedule). This is the same vaccine program as for girls. It is also recommended for men up to age 26 years who have sex with other men.

The 2023 return to school will see the launch of a general vaccination campaign aimed at 7th-grade students, both boys and girls, with parental consent, to increase vaccine coverage. In 2021, vaccine uptake was 43.6% in girls between the ages of 15 and 18 years and scarcely 6% in boys, according to Public Health France.

Two vaccines are in use: the bivalent Cervarix vaccine, which is effective against HPV-16 and HPV-18, and the nonavalent Gardasil 9, which is effective against types 16, 18, 31, 33, 45, 52, and 58. Both provide protection against HPV-16, the type most common in men, which is responsible for more than half of cases of cervical cancer.

https://www.medscape.com/viewarticle/996020