An Inter-Market Checkup
I spent some time in Columnist Conversation on Wednesday reviewing the state of commodity markets. Earlier this year I posited that the failure of broad commodity markets to push higher was a sign that the global economy remained sluggish. I also looked at the fundamentals of the oil and gasoline markets, which are clearly in a short-term state of oversupply, in my column yesterday. Since most broad commodity indices are energy-centric, much of the recent softness can be directly attributed to falling energy prices.
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