Commodities: Copper
Copper is arguably a perfect reflection of how financial markets are feeling towards the Omicron strain:
Yesterday saw OZL close just 2% below its 2021 high, an impressive performance considering the heavy-handed “risk off” attitude towards a number of growth names. We actually believe coppers resilience to the Omicron breakout is testament to the underlying strength of the reflation trade into 2022 and beyond, if “Dr Copper” can hover within 11% of its 2021…
Surprisingly no major change, “Dr Copper” is often regarded as a leading indicator of future economic strength and the last 6-months of sideways consolidation continue even in the face of Omicron selling onslaught. The manner in which the base metal ignored the uncertain tone from bond yields and the headwind of a rising $US implied a healthy market…
“Dr Copper” as its often regarded as a leading indicator of future economic strength and the last 6-months of sideways consolidation again implies that investors are uncertain as to what comes next. The manner in which the base metal has ignored the uncertain tone from longer dated bond yields and the headwind of a rising $US suggests a healthy…
