War, Fragmentation & Commodity Prices
Economic fragmentation will accelerate in the wake of the Israel-Hamas and Russia-Ukraine wars. China’s fis-cal support for its economy; a still-strong US economy, and the preparation for a wider war in the Middle East involving Iran will elevate volatility and bias oil prices upward. We remain long equity and commodity exposure via the XOP, XME and COMT ETFs.
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BCA Research | Commodity & Energy Strategy
Top-down global-macro framework with bottom-up fundamental analysis of major commodities.
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