In this weekly note, we highlight 10 of the most important charts or themes we're currently seeing in asset classes around the world.
Commodities Keep Cruising
Despite copper remaining range-bound and the CRB index stuck below its October highs from last year, our equal-weight commodity index hit fresh 8-year highs last week. This speaks to broad participation and strength among commodities, and is supportive of our view that a new commodity supercycle is upon us. This index making new highs is also excellent confirmation of the breakouts in the US 10-year yield, and energy and financial stocks. We think these areas of the market will continue to do well. Though we’re definitely not out of the woods, we are beginning to see signs that the market is finding its way. Our equal-weight commodity index at its highest level in eight years is definitely one for the bulls. After a prolonged period of consolidation in 2021, we think commodities are ready to make a fresh leg higher.
