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The volatility continues at the CME in the hog markets. For what feels like the 10th week in a row, front month hogs saw limit moves in both directions. We suffered through an ugly draw down mid week only to see the board close near highs. You just can’t be in position to let… Read more.
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Global markets finished an eventful trading week last week with a mildly negative tone, as signs of progress in US/China trade discussions were followed by negative comments late last week that indicated both sides remained far apart. But there were some signs that…
The US stock market continues to climb “a wall of worry,” as less than stellar US economic data, ongoing US/China trade tensions, signs of a building global currency problem, and expectations of a US interest rate hike this month are being discounted…
The number of global geopolitical/economic flashpoints has expanded dramatically, and the potential for a major risk-off event is growing. Given that US/China trade tensions are escalating and given China’s outsized impact on physical commodities, the threat against…
The number of global geopolitical/economic flashpoints has expanded dramatically, and the potential for a major risk-off event is growing. Given that US/China trade tensions are escalating and given China’s outsized impact on physical commodities, the threat against…
We would suggest that risk on/risk off big picture macroeconomic volatility in commodities is set to reach a crescendo despite the holiday-shortened trading week in the US. Our view is that the looming July 6th tariff implementation deadline will…
As of this writing, the bearish physical commodity headline flow has the feel of an approaching peak. Very good growing conditions in the US, concerns over an internet tax, the recent US rate hike, an 11-month high in the dollar, sentiment injury, tension over immigration, an explosion in global tariff threats, and a slight loosening of world oil production restraint leave physical commodities…
The most recent Federal Reserve meeting was categorized as dovish, with the Fed expected to allow further growth and minor gains in inflation before they move away from a balanced view on rates. Despite this, the equity markets and sentiment as a whole failed to embrace the positives from the meeting. US equities also failed to sustain upside action following a lot of very bullish fundamental news from…