Tuesday July 19, 2022
Copper is an important component of building and all things electrical. It is called Dr. Copper for that reason, the price of copper reflects demand. An article in today's WSJ makes the case that things are not looking good by that measure. copper prices peaked after the stock market indexes in March. Now prices have fallen from 5.0 to 3.35. china's covid lock down is partly to blame but
Scan the WSJ today, the headlines are uniformly negative. Sri Lanka and Afghanistan collapse. OK hardly economic centers but..
Karen House has perhaps the harshest evaluation of the Bident trip to the Mid East - he should not have gone, comparing it to Chamberlin's visit with Hitler in 1938. And noting that despite claiming he brought up the murder, a Saudi official does not recall that, Biden again insisting he did. And he came away without an oil deal. Gerard Baker notes Biden has always just followed his party, now going right over the cliff with it. And he has harsh words for Kamala Harris continuing word salads.
Stocks actually had a 500 oint down day Monday. A 300 point early rally fizzled into a 215 point loss.
Prices are still in a downtrend channel.
Bondo prices weaken our decision to take a short term profit in closed end munis was correct.
TLT hs lost almost a third of its value this year. PMO is approaching zero and about to roll over.
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