As I and many of my subscribers have noticed, many of the key commodity drivers of inflation have seeming rolled over. European gas prices, Chinese pork prices, oil prices, US corn prices among others have weakened to levels seen before Russia’s invasion of Ukraine. Strangely, weak commodity prices should be disastrous for my key trade, long GLD short TLT, and yet strangely it has breached new cycle highs. Why is this?
Watch with a 7-day free trial
Subscribe to Capital Flows and Asset Markets to watch this video and get 7 days of free access to the full post archives.
