Much of the financial headlines over recent weeks have been around commodity prices as the Ukraine invasion compounds already weak supply dynamics across many market sectors from wheat to coal and of course crude oil. MM is sticking with our 2 major macro calls moving forward:
- Short-term we believe things are becoming over-cooked courtesy of the Russian invasion and a correction is looming but its one to eventually step and buy.
- However MM believes commodities have commenced a “Super Cycle” that will ultimately provide a significant tailwind for the Australian Resources Sector over the coming years.
MM remains bullish commodities long-term
