What's hot in commodities right now
In this edition of the Signal or Noise Rapid Fire, we take on the commodities world with lightning speed.
As one journalist at another outlet has described it, you should "keep one eye on oil, always". The crude oil market has the power to dramatically affect the global economy and the performance of other asset classes. But that sentiment should really apply to many commodities.
Blink and you'll have missed the huge rally in gold prices, or the fact that copper is at multi-year highs, or the fact that a 260%+ rally in cocoa prices made the Easter egg hunt a far more unaffordable activity this year.
Indeed, while it may not occur to many investors at first glance, macro moves and commodity shocks often go hand in hand. And in a world with two major conflicts, underinvestment in infrastructure, and an ongoing demand-supply deficit, that link has never been more apparent than right now.
With this in mind, the next episode of Livewire's Signal or Noise will focus on the links between the global macro environment and the global commodities market. But before the episode is officially released on Monday, we've got a teaser here to whet your appetite.
The episode will feature our resident economist Diana Mousina of AMP and two commodities-focused portfolio managers: Merlon Capital Partners' Benjamin Goodwin and Janus Henderson Investors' Daniel Sullivan.
Note: This teaser was taped on Wednesday 10 April 2024. The next episode of Signal or Noise will be released on Monday 15 April 2024.
Topics discussed
- Goldman Sachs and Citi believe copper prices can rally another 30 per cent, while Westpac sees iron ore dropping below $US90 a tonne. Are these SIGNALS or NOISE?
- Chinese factory activity was the most robust it’s been in more than a year last month - but property demand remains sluggish. Is that a SIGNAL or NOISE?
- Gold prices are at all-time highs but gold stocks have not caught up. Is that a SIGNAL or NOISE?
- Oil prices are above US$90/barrel as OPEC+ continues to target supply cuts. Is that a SIGNAL or NOISE?
- Finally, what is one commodity you think more investors should be paying attention to?
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Hans leads the team's coverage of the global economy and fixed income. He is the creator and moderator of Signal or Noise, Livewire's multimedia series dedicated to top-down investing.
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Hans leads the team's coverage of the global economy and fixed income. He is the creator and moderator of Signal or Noise, Livewire's multimedia series dedicated to top-down investing.
Expertise
Hans leads the team's coverage of the global economy and fixed income. He is the creator and moderator of Signal or Noise, Livewire's multimedia series dedicated to top-down investing.
Expertise
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