2009-06-12 — blogspot.com
What's driving this? To a degree it's a dollar phenomenon, the same sort of "invoice currency" effect that we observed last year. Moreover, the rise in crude specifically and commodities generally has exhumed the momentum jockeys, who have started buying simply because the price is going up. But ultimately, it seems to Macro Man, the bedrock of the commodity bull story is down to the Chinese growth "miracle." Call it the China syndrome.
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