Our Commodity & Energy Strategy team evaluated the impact of president-elect Trump’s policies on commodity markets. Trump’s energy policies, while promoting increased domestic oil production, are unlikely to…
President Trump’s victory has injected a dose of uncertainty into the outlook for commodity markets. Most notably, the new administration’s energy policies are likely to be part of the early agenda. Changes in US domestic and foreign…
Our 2025 Outlook was just published. We revisit this year’s calls and discuss what we think is ahead for the global economy and markets for the next 12 months and beyond. The recent US election has significantly shifted…
Our US Equity strategists investigated the underperformance of the Green and Clean (G&C) investment theme, in the context of an incoming US administration expected to be less friendly towards green initiatives. The G…
Our Commodity and Energy strategists believe a supply-demand deficit will emerge in 2026, and widen into the end of the decade. Copper demand is set to grow over 4% annually between 2025 and 2030, fueled by the green energy…
Can Powell achieve a soft landing? There are some indications he is doing it. We examine why our negative stance was wrong and analyze the four growth engines that kept recession at bay. Half of these forces remain while the other…
Speculators have supported copper prices as demand growth slowed below the pace of supply growth. Our Commodity and Energy Strategy colleagues believe this does not bode well for the metal. The copper market faces a situation…
Silver has shone this year, especially after it breached a multi-decade downward slopping trendline. Silver is a precious metal, but its heavy usage in industrial processes makes us wonder whether it is sending a bullish message…
