Analysts and traders have been so conditioned with the experience of 40 years - that when the US goes into recession commodities suffer a severe correction. The last time this didn't happen was in the 60's. Then the US went into a severe recession but commodities continued their climb, because of Japanese industrialization. Japanese population then was 80 million. Compare that with over a billion Chinese. India, Russia, Brazil add a further premium. What about, dare I say, peak oil. A few years ago, someone saying those two words were considered off the fringe, but now even mainstream politicians and ceo's of oil majors speak like Al Gore on climate change.
Stronger for longer should now be replaced by Ox's Hegarty's stronger forever.
BHP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)