BCA Research’s Counterpoint service’s favored trade this week is to short the rally in uranium plays. The recent near-vertical ascent in uranium plays have left many investors scratching their heads and wondering: what’s going…
Highlights Asian and European natural gas prices will remain well bid as the Northern Hemisphere winter approaches. An upgraded probability of a second La Niña event this winter will keep gas buyers scouring markets for supplies…
Several key financial assets are failing to send a strong signal and instead have been in a state of stasis. Abstracting from day-to-day moves, Treasury yields, the LMEX, and EUR/USD have not been on a clear trajectory since the…
Highlights The odds of a stronger recovery in EM oil demand next year are rising, as vaccines using mRNA technology are manufactured locally and become widely available.1 This will reduce local lock-down risks in economies relying on…
Aluminum prices recently accelerated sharply following several months of relative inactivity. The recent rally was triggered by fears of a disruption in bauxite supplies - the primary source of aluminum - following a military…
Highlights The US Climate Prediction Center gives ~ 70% odds another La Niña will form in the August – October interval and will continue through winter 2021-22. This will be a second-year La Niña if it forms, and…
Highlights The US government issued its first-ever water-shortage declaration for the Colorado River basin in August, due to historically low water levels at the major reservoirs fed by the river (Chart of the Week). The drought…
This week I have been holding client calls and roundtables with clients located in the EMEA region. In next week’s report we will share our answers to the most common client questions. In the meantime, this week we are sending you a…
Highlights US crude oil output will continue its sharp recovery before leveling off by mid-2022, in our latest forecast (Chart of the Week). The recovery in US production is led by higher Permian shale-oil production, which is quietly…