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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (15138)	6/10/2004 12:03:13 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

Well it's very difficult for me to see copper and oil at these prices next month. Not sure how that works when you're down to 180,000 MT (currently 240,000, drawdown was another 60,000 in the last month) of above ground Cu stocks at Comex and LME, and with the issues we've been discussing here on energy. In fact I will predict these prices will be much, much higher, and the inflation even worse. So instead of being 400-500 bps behind a "neutral stance", it will be 600 Bps and that's AFTER the crackerass rate increase. The MoP can only bust up the specs, so many times with feeble 25 bps rate increases.