JJC News and Press, iPathA Series B Bloomberg Copper Subindex Total Return ETN From 01/31/23

Summary Driven by a cobalt price rally and cost reduction, some copper-cobalt miners are actively assessing restart and expansion opportunities. The cobalt price has had strong momentum since the beginning of 2021, with the London Metal Exchange cash price increasing 52% by Aug. 31. ...

Summary Resource equities exhibited strong relative gains this quarter, outperforming both global equities and bonds during the three-month period. During the quarter, the greatest contributions to absolute performance came from the oil & gas sub-sector - including the top three ind...

Summary The Labor Department announced that the Consumer Price Index (CPI) declined -0.1% MoM in December, which was in line with economists’ consensus estimate. Core CPI rose 0.3%, but that was also in line with the economists’ consensus estimates. There is no CPI evidenc...

Summary China is rapidly reopening its economy, which is expected to lift up copper demand. On the supply side, some major producers are facing issues, exacerbated by political instability. I believe the resulting market environment is making the bull case for copper even stronger. ...

Summary Stocks and bonds rallied as the Fed’s Whip Inflation Now project seems to be finally bearing some fruit. The slowdown in goods spending over the last year has been modest but entirely expected and offset by a rise in services spending. The Fed has spent the last year ...

Summary Copper jumped above $9,000/t for the first time since June at the beginning of 2023 on optimism about China's economy, after Beijing abandoned its zero-Covid policy. The red metal has also received support from the weaker US dollar, which slid to a near seven-month low recently....

Summary December was a mixed month for commodity index strategies overall. Natural gas was the strongest commodity for most index strategies. The precious metals sector was the strongest performing sector in December, rising over 5%. Natural Gas Contributes From Rebalance ...

Summary In this post, we provide our key assumptions and outlook for 2023. We are relatively more optimistic than most, as we believe that we are already in the mid-late innings of this downturn. We believe that stabilizing interest rates will provide a base for valuations and expec...

Summary What's most interesting about commodities in 2023 is that the next rally will take place against a background of sharply falling and rapidly dwindling global stockpiles. Copper stocks are falling globally and they have been for over a decade. In summary, soaring copper price...

Summary Modern relations between China and Australia are in a deep freeze. China finds itself increasingly isolated, not only from the U.S., but most of the world. Chinese policymakers have prudently decided to return to one of their oldest allies: Australia. The Chinese also fe...