It seems like commodities are the boss now. BofA reports that broad commodities just poked their head into positive territory on a one-year rolling basis for the first time since 2014. Industrial metals lead, food follows, oil is percolating and even gold is catching a bid. We are in the first innings here – our good friend Chase Taylor at Pinecone Macro notes that 2025 WTI is priced at $52pb.
We live in interesting times. To have big-boy numbers, your choice is either hard assets or crypto. Or dare I say it, both? TPW Advisory is in the ‘both’ camp.
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