Last week, Commodity World reported a surprising, bullish jolt to prices. The bounce got commodity-/equity-investors excited again, after weeks of directionless trading conditions. Some asked for details on the fundamental kick behind the event. However, all other signals fail to reflect the price hike. Primary driver? It’s all US macro: more bullish macro-data + manageable inflation + strong local debt demand (weighing on yields; preserving US Fed’s dovish pitch). For now, recovering US aggregate demand vs. subdued USD offers support for US$-denom. commodities. Here, we give these price performances some perspective + remind everyone that we’re still flat-to-bearish on the short-term price outlook ().
- 1 Macro Analysis/Global G7 reiterates support for SDR allocation and seeks to boost its impact
- 2 Strategy Note/Global G7's 'Build Back Better World' is not an answer to China's Belt and Road
- 3 Strategy Note/Vietnam Vietnam: The best emerging market is still spoilt by foreign ownership limits
- 4 Strategy Note/Global Egypt's military spend is not securing the Nile in its dispute with Ethiopia
- 5 Strategy Note/India India sues Twitter
This publication is being distributed by Tellimer solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not con...