Base Metals and Minerals

On February 27, 2007, Wall Street collapsed in response to the Shanghai Surprise – a response that alerted the world to something called “subprime”.

Weekly musings from your editor. Meet one of the original proponents of the Commodities Super Cycle. He is convinced the best has yet to come.

As global economic growth forecasts fall, and commodities indices rise, it would seem the world is facing the crippling spectre of stagflation.

An announced US$15bn buyback by IBM turned Wall Street around in the face of stagflationary data.

Zinifex delivered earnings broadly in line with expectations but indications it will pursue further acquisitions and rising cost pressures mean a wide range of broker opinions on the stock.

The Dow exploded to the upside mid-afternoon when S&P announced bond insurers Ambac and MBIA could both keep their AAA ratings.

The Dow bounced hard on the death on Friday as news broke that Ambac was about to be rescued.

Slowing global growth usually means weaker commodity prices but Barclays Capital suggests the current supply side issues across the commodity spectrum should support prices.

Last night’s Philadelphia economic activity index was the worst reading since just before the 2001 recession.

The Dow closed up 90 points last night in a session dominated by the release of the January Fed minutes.