The Tell: How commodities may be signaling a global economic slowdown [MarketWatch]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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Source: MarketWatch
How commodities may be signaling a global economic slowdown The optimism about synchronized accelerating global growth has underpinned equity markets march higher for must of the past several months, but recent fragility in commodities may well be signaling the beginning of a slowdown, according to Simon Derrick, chief currency strategist at BNY Mellon. The strategist likens the recent bout of weakness in commodities to the period back in 2008, when staples such as corn and soybean prices fell significantly, then signaling that global growth was screeching to a halt. Derrick suggests that while investors were worrying about risks of inflation given where Treasury futures and crude-oil prices were heading, something sinister has been going on under the surface. He references one commodity gauge that in the past had been viewed as one of the most reliable near-term guides of economic global expansion: The Baltic Dry Index. Derrick said that the index, which tracks the cost of moving raw
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