"Most things Commodities 'Reflation' have one thing to thank in 2016, and that's #GrowthSlowing => Dovish Fed => Down Dollar," Hedgeye CEO Keith McCullough wrote earlier this morning. "But what if the jobs print is 'good' (albeit slowing in TRENDING rate of change terms)? Dollar Up, Commodity Reflation Down?"
McCullough continues: "With CRB Index and Oil -5% and -10%, respectively, in the last month I’m sure glad I didn’t chase those April-May reflation charts. To be continued…"