The Macro Charts You Must Know #11
If the frame above isn’t loading, you can read Week In Charts over here.
The week in a nutshell:
- The USD marched higher, and is looking firm against a variety of currencies
- US long term yields rallied strongly at the end of the week, but this did not translate into higher breakevens and a steeper yield curve
- Commodities continue to trade according to idiosyncratic factors rather than in conjunction with broad macro headwinds or tailwinds
- Aluminium remains firm after going parabolic last week
- Iron ore is down ~50% in just 4 months!
- European natural gas prices skyrocketed this week, adding to inflationary pressure that the ECB can’t control
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