bearish
The Commodity Report: CRB Commodity Index Ended the Week 5.1% Lower
SUMMARY
- Besides global growth concerns as Central Banks step up their battle against inflation, and China's zero-covid restrictions may stretch into 2023, it is quite clear what the main story was this week
- Russia cut up to 60% of its gas flows to Germany. It will become very hard for Europe to get over the next winter if gas flows remain that low
- Rate hiking cycles end when the Fed Funds target rate catches up to where the 2-year T-Note yield has already gone
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