MBCC TH 17th Jun'24 - "Higher Bonds AND higher Dollar, oops! What does it mean and why is this happening - physical Commodity markets ALWAYS point the way!"

Anecdote: We attended a round table dinner party and the “easiest” no brainer trade was long Copper for everyone. Hmmmm….sure we like the decarbonisation/electrification story, but there is a time for everything as Copper physical markets do not trade on PHANTOM demand, but on ACTUAL demand.

Below we tell you what is happening on the Macro side as this has only happened in 08, 11, 14…..and sell side is NOT set up for this, oops!