The recent closure of the Strait of Hormuz has exemplified how fragile global supply chains are. This report focuses on the potential of an escalating conflict between United States and China. It outlines why Taiwan is the flashpoint. This report highlights the severe vulnerability of critical global supply chains that are fundamental to economic growth [...]
Copper is being priced as a structural certainty. The macro environment forming beneath it is anything but. A sequence is beginning to take shape: reaccelerating inflation, constrained policy, and early signs of demand compression. The market is anchored to copper’s structural future. It may be underestimating the path required to get there. [...]