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From the Market Ear:
Got commodities?
“Trump runs it hot, oil bounces post Russia-Ukraine fix, China keeps yuan cheap, soon all the commodity charts will look like gold…” (BofA)
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Energy
XLE has been stuck inside the same range since March 2022. Things could get very squeezy should we take out current range highs.
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The 30 year
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.