Counterparties

MORNING BID – Losses continue, and other concerns

March 14, 2014

The ructions in China have had an interesting effect on commodities prices – good for gold, crappy for copper. And more developments in this area should be expected as the market deals with growing weakness and the threat of a deflating credit bubble coming from the massive lending to various sectors in the world’s second-largest economy. Copper has been rather weak of late, but the broader CRB commodities index is actually much higher on the year. This is the biggest divergence since the eurozone debt crisis in 2011, points out Ashraf Laidi, the chief global strategist at City Index in London.

MORNING BID – Copper, China and currencies

March 12, 2014

Markets start on the back foot this morning, with weakness overseas – and particularly in emerging markets – feeding through to a bit of strain on U.S. futures and a bit of flight to quality to the U.S. bond market.