Copper Price Decline Continues
Copper prices are down 17 percent since their Jan 16th 52-week high with no technical support in sight until $2.00 per pound, down another 16.6 percent from today’s close.
China’s Industrial Output Plunges, GDP Headed For First Contraction On Record
China’s industrial output fell more than expected as the coronavirus shutdown factories, across the nation. Industrial output fell13.5% in January and February from a year earlier, versus a median estimate for a 3% contraction. Retail sales fell 20.5% in the period, compared to a projected 4% fall. Fixed-asset investment dropped 24.5%, versus a forecast 2% …
Federal Reserve Brings Out The Nukes
The Federal Reserve cut its key policy interest rate to zero joining forces with other central banks to keep the global financial system from seizing up due to fallout from the coronavirus pandemic. The Fed acted quickly after the US government bond market began to convulse late in the week with interest rates spiking after …