Unprecedented global economic stimulus has more than doubled the CRB Index since the eye of the pandemic panic around 15-months ago with bellwether economic indicators such as copper and crude oil both more than doubling. However as questions are posed around the speed of the economic pick-up locally and overseas we are mindful that commodity prices have on the whole failed to follow the lead lower by bond markets hence a pullback in prices short-term remains a real possibility, especially considering our view towards the $US.
MM is bullish commodities medium-term
