Sunday, February 28, 2021

Recession? Not According to Copper

There are some who predict a recession.

Not copper.

Copper is the old-farts' economic barometer, and has been on a tear for a year.

Copper is surging amid a broad rally in metals from iron ore to nickel. The bellwether industrial metal has doubled in price since a nadir in March, also boosted by rapidly tightening physical markets and prospects for rebounding economic growth
However, the prospect of serious inflation rides in the copper-price passenger seat.  The Biden*-Pelosi plan to overspend beyond the imagination of FDR and Obozo (combined) is a real threat, and the recent upswing in 10-year T-yields is a sign.


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