Dr Copper knows.
Dr Copper knows.
Copper Knows.
No doubt.
The y-axis needs to be grounded at Zer0.
I haven’t done the study myself, but I suspect that there is a MASSIVE disconnect between the CRB index and the yield curve since the advent of QE*.
The CRB has been saying slow down while the FEDS have been creating an artificial market.
I suspect that if you looked at the CRB vs. the Yield curve prior to QE you would see the CRB leading long rates lower, historically.
Not anymore.
Disconnected.