The Copper Journal Weekly Reports - pg 5. Weekly reports / charts
We’ve been trying to make some sense of it all, but with each passing day, it becomes more and more difficult. And no matter where one looks around the world, it seems as though the wheels are coming off the wagon.
- The Brexit situation is becoming increasingly more desperate
- Hong Kong protests are becoming more violent
- The US / China trade war is getting worse
- Argentina looks to restructure / delay $100 billion of debt
- Interest rate inversions are spreading
- The dollar is rising to new highs
- Precious metals ignore the dollar as they also rise to new highs
Against this backdrop, most major equity markets rose last week...
With all the talk about interest rate inversions, and what they may or may not be telling us about the economy, we thought we’d would take a look back in time to see if there is anything to see.
As it turns out, there is a great deal to see, but nothing consistent enough to bet the farm on.
But first things first - on Friday, the 2 and 10 year treasuries did invert by 0.01%, so we should expect to see more headlines warning of a recession...
We’ve been looking high and low, hither and yon, for something positive, optimistic, or encouraging to say, but alas, the words are nowhere to be found these days.
No need to go through the litany of problems plaguing the world, you’ve heard it all before –too many times perhaps.
But there is one thing that has been a bother, - No, more an irritant, like a pebble in the shoe, is how many times, repeatedly, on tv, the radio, or in newspapers, the dreaded R word...
We are told that American farmers have been the hardest hit in the trade war, thus they will be compensated for their losses.
No question, those who till the soil have been hurt, but the damage extends way beyond the farm belt.
Just 14 months ago, the Spot price of copper stood at $3.30 with the market in...
A ‘sucker punch’ is defined as a punch made without warning, or while the recipient is distracted, allowing no time for preparation, or defense on the part of the recipient.
That’s what we got last week – A Sucker Punch.
Just about every market, to include base metals, energy and equities all felt the severe pain of the blow, with copper particularly hard hit...