Softs, grains, and livestock are mostly down YTD, but energy and metals are mostly up
1.Gap higher in nat gas prices likely at the reopen after midday 12z EC trends further colder by another 14 HDDs and up 20 HDDs vs Friday's midday data.2.Natty continues its march toward that $2 handle. Perfect ABCD pattern.
3.Motor gasoline and copper prices are highly correlated, with a ~0.9 correlation coefficient, so there is a multicollinearity problem when using both variables to analyze the dependent variable (CPI).
Separately they have low correlation coefficient and R-squared with CPI.There is absolutely no evidence that CPI tends to follow copper prices. None!
4.Softs, grains, and livestock are mostly down YTD. On the other hand, energy and metals are mostly up.https://twitter.com/Gugo907/status/1617185941138931712
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