Commodity Levitation Since Last FOMC - Inflation or Growth?
In the month since Bernanke extended ZIRP til mid-2013 and explained that he really is not out of bullets, we thought it interesting to look at commodity (or perhaps real currency) movements since then. It is rather notable that Dr. Copper, oh so notably used by the cognoscenti to explain global growth remains miraculous, has underperformed the potentially more critical exchangeable stores of value such as Gold, Silver, and Oil. Even more surprising, and potentially signaling the disaster that is Europe, the USD (based on the Dollar Index) is stronger by 2.5%.
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