Surveillance: Peterson on Jobless Claims Drop
Bloomberg Surveillance
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The Wagner Group Marching on Moscow
We're in a high interest rate environment. We've got a lot of flags suggesting recessionary environments later in the year. PMI numbers are all coming down. These are all data points that really fuel the copper market and they are symptomatic goals of the broader, wider economy. It's been weak. It has not been as strong as expected. And despite interest rates going up, I think that is the biggest fear. If interest rates stay high, then demand is going to suffer. There are fears for industrial production. None of this builds well for Chinese copper demand.
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