CHART OF THE DAY: Obvious Broadening Of Inflation

While I sometimes get accused of being “shorter-term” (which is fine, sometimes one needs to make short-term pivots!), Dollar Down, Commodities Up has been our Full Cycle Investing view since June of 2020:

1. Oil (WTI) inflated another +2.5% last week, taking its TRENDING (3-month) return to +20.7%
2. Rubber inflated +2.7% last week, taking its immediate-term TRADE momentum to +12.7%
3. Oats inflated another +1.1% last week, taking its 1 and 3 month returns to +19.6% and +48.0%

Who’s writing about Rubber and Oats this morning? Personally I don’t wake up wanting to write about anything unless it either amplifies (or might change) my positioning. The BROADENING of inflation is the point of Rubber and Oats here.