Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough. 

Yeah, we got plenty of things to buy and sell in Global Macro at this point. As an Asset Class, I’ve sold my longstanding Bull Case on Commodities, right as Barron’s put “Commodities Price Boom” on its cover this weekend:

  1. Dr. Copper didn’t confirm a new raging bull in Commodities, disinflating -1.2% on the week to Neutral TREND

... Moving along as the MOVE (Treasury Bond Volatility) Index continues to signal a series of lower-highs for The Cycle inasmuch as Commodities are, if you look at Global Equities there was no panic there either last week

CHART OF THE DAY: Treasury Bond Volatility & Copper Disinflate WoW - move