China Owns All The Copper | Market Rundown
Critically low commodity inventories are stabilizing but not growing
Housekeeping: The Active Trader post will be out shortly
Today:
Market Rundown.
JPM, SG, and Ulysses S. Grant
1- Market Rundown:
Good Morning. The dollar is up 11, Bonds are slightly stronger. Stocks are weaker by 50 to 70 bps. Gold is up $1.00 after being stronger overnight. Silver is down 6c. Crude and Nat Gas are essentailly flat. Crypto is down 50-100 bps and Grains are uniformly being bought up 50-70 bps.
TUESDAY, JAN. 24
9:45 am S&P U.S. manufacturing PMI (flash) Jan. 47.0 46.2
9:45 am S&P U.S. services PMI (flash) Jan. 45.3 44.7
WEDNESDAY, JAN. 25 None scheduled 2- Comment:
JPM notes China Dominance in Commodities, Soc Gen helps prepare for the Debt Ceiling fiasco, and Jim Grant writes a memo to Neel Kashkari'.
Zen Moment
ANALYSIS BELOW…