Wednesday, August 19, 2009

Another new wrinkle in the markets

Proof that there is still a lingering sense of dislocation in the financial markets can now be seen in commodities prices. In recent days oil, lead, aluminum, copper, nickel, and even gold have had pronounced declines after lanquishing or slightly weakening during the last few weeks. How does this correspond to a market bottom, to a recovery that's just beginning, to a leadership role in a rebound by China. It doesn't. Either the commodities markets are giving us a head fake, or there's less incipient recovery in Asia and elsewhere than the data and forecasts of economists show.

0 Comments:

Post a Comment

<< Home