Mr. Market seem to take the Cyprus event in stride in impressive fashion.
“During each of the first two quantitative easing phases carried out by the Fed, commodities appreciated by over 25%. However, following the announcement of QE3 in Sept. 2012, commodity prices declined (-7% for the CRB index), a reminder that they remain largely driven by economic cycles rather than central bank actions.” SocGen
MORGAN STANLEY: Here’s What 15 Major Commodities Will Do For The Next Two Years at Business Insider.
Copper breaking critical support by Peter Brandt.
Fun read: How to get rich by discovering a uranium mine with your dad at Mining.
“…more ethanol available then refiners can use, thus the ethanol glut. At the same time, refiners are required to use this ethanol, but they can’t because of the blending wall, so they have to buy ethanol credits from refiners who don’t need them.” Economic Policy Journal