Following the US election, we have seen bond rates continuing to increase, a stronger US dollar, firmer commodity prices, and a US stock market at all-time highs. Commodity prices (especially metals) are rising strongly in an environment where, previously, they would be stable, or even falling. The change in several historical price relationships (such as the US dollar and commodities) has created a unique investment environment. Is optimism around the US President-elect’s fiscal expansion masking the true deflationary picture? (VIEW LINK)
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