The prognosis is still somewhat cloudy at the moment, as the economically sensitive metal has struggled over the last few weeks to rebound above levels that provided support last summer....
The dramatic decline in copper prices that took place at the beginning of March has taken a breather over the last two weeks as the metal has retraced about 37% of the decline that began on March 6th....
Over the last 4.5 months the spread between the 30 year treasury yields and 10 year treasury yields has fallen from 112bps to 85bps, a difference of 27bps, and that spread has been falling fast in recent weeks....
Copper made headlines last week as it plowed through multiple support areas to levels not seen since mid-2010. That move gave market watchers, including ourselves, pause since copper prices are an important leading economic indicator....
Chinese economic data continues to come in on the weak side as today brought disappointing retail sales and industrial production figures. These data represent January and February cumulative totals so they should not be affected significantly by the timing of the Chinese New Year holiday....
We’ve been commenting on the price weakness of copper recently so we’d like to point out that after the selloff over the last two days copper is now within a few pennies of breaking the low it made last June....
Although stocks have erased losses from earlier in the year and are now making new all-time highs, the metal with a PhD in economics is acting a bit less sanguine. Indeed, copper failed to make a new high in February and has now broken it’s...
The other day we highlighted here the worrying signal copper prices were sending and noted the metal’s price was at a critical juncture. Well with today’s action Copper has indeed broken through the rising trendline that has provided support for the last six months....
Dr. Copper, aptly named for the metal’s ability to gauge the strength of the global economy, is not giving the most upbeat prognosis at the moment. In fact, with today’s weakness the intermediate term trendline is being tested....
Copper has rather quietly displayed a good amount of weakness over the last few weeks and is down another 2.2% today. We highlight this because copper, having so many industrial and construction related uses, tends to be a good thermometer by which to measure the...
10 year treasury yields finished 9bps lower on the day today hitting the lowest level since mid-July while gold, silver, copper and the euro all caught a decent bid. The divergence between S&P 500 futures and the 10 year note is now at the most...
We track the relative performance of the cyclical sectors (consumer discretionary, financial, energy, industrial, materials, technology) compared to the counter-cyclical sectors (consumer staples, health care, telecom, utilities) to gain an insight into leadership within the equity markets. Usually copper–the metal with a Ph.D in Economics–moves...
