In this Strategy Outlook, we present the major investment themes and views we see playing out for the rest of the year and beyond.
Given that their fundamentals are intertwined, the various commodities typically exhibit similar behavior. Demand for energy and industrial metals strengthens when the global manufacturing cycle is on an upswing. Similarly,…
Listen to a short summary of this report. Executive Summary Recession Checklist US stocks were down almost 20% at their lowest point in May. Any lower and they would be pricing in recession.…
Next Thursday May 26, we will hold the BCA Debate – High Inflation: Here To Stay,Or Soon In The Rear-View Mirror? – a Webcast in which I will debate my colleague, Chief Commodity & Energy Strategist, Bob Ryan on the…
Executive Summary Copper Will Remain Tight Even In Recession Supply-chain disruptions arising from Russia's invasion of Ukraine and demand hits from lockdowns in Shanghai are increasing the odds of a global recession,…
Executive Summary Equities Are Still Attractive Versus Bonds Macroeconomic Outlook: Global growth will reaccelerate in the second half of this year provided a ceasefire in Ukraine is reached. Inflation will temporarily come…
Copper prices have followed a similar trajectory as other commodities since the start of the Russian invasion of Ukraine. The price of COMEX copper jumped from $4.45/lb on February 24 to a peak of $4.92/lb on March 4 before…
Executive Summary Euro Natgas Soars; LME Nickel Squeezed Russian Energy Minister Alexander Novak's threat to halt shipmentsof natgas on Nord Stream 1 to Europe lifted European gas prices 25% overnight, and will…