Crude & Copper Crumbling After China Reality Sinks In

The initial exuberant jump in commodities on better than expected (though still worst in over 6 years) Chinese GDP data is rapidly giving way to the "good news is bad news" reality of a lower probability of massive stimulus new normal. Crude and Copper in particular are tumbling this morning as the dismal reality of nominal (ex the magic of the deflator) GDP around 6.2% sinks in...

Charts: Bloomberg

Comments

[Kina]

Sell the news, because we know its BS

[negative rates]

Now that's something I can sink my teeth into.

[buzzsaw99]

only an rch from a half billion bbls:

http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCESTUS1&f=W

i don't know how bad the floating glut is.

[horot]

Crude & Copper Crumbling After China Reality Sinks In

Aah...the beauty of HFT.

[CHX]

Yep, the pictures are all painted in perfect sync(h)rony.

[Davilis]

And the stretch to explain every nuance of volatility on some recent news item continues....

[Pomkiwi]

Glencore must be watching copper. They were supposed to be toast if it fell any more.

[yogibear]

Obama and the Fed can lie all they want about unemployment  but reality trumps fantasy.

[IntercoursetheEU]

May your longs go up and your shorts go down

[ihatebarkingdogs]

Does this mean the price of copper pipe at Home Depot has gone down too? I need to re-pipe my house. For some reason, I doubt it. What goes up, stays up, if it fooks "the consumer".