Podcast: Commodities are heating up reviving the inflation ghost
Saxo Market Call
Summary: The energy in markets are low due to the US Thanksgiving holiday, but a few markets are on the move. Chinese equities are up 1.6% today on government statistics showing industrial profits are up 28% y/y in October. In commodities economic activity and the rebound in China continues to drive copper to a seven-year high. But it is not only spot prices that are showing interesting signs, the average forward curve in commodity futures has shifted into backwardation for the first time since 2014 indicating further potential in commodities. Are rising logistics cost posing a challenge to e-commerce and finally, we take a look at Bitcoin which was selling off hard yesterday on potential regulatory crackdown coming to crypto currencies. Today with Peter Garnry on equities and Ole Hansen on commodities.
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