Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Commodities

<ul>
<li>A review of recent events and data impacting our investment themes and outlook</li>
<li>The Japanese election result provides a further catalyst for Japanese assets</li>
<li>The future direction of the USD is the most important variable</li>
</ul>


A review of recent events and data impacting our investment themes and outlook
The Japanese election result provides a further catalyst for Japanese assets
The future direction of the USD is the most important variable


Overview #50 — A New Japan Meets a Nervous Dollar

Data-Driven Commodity Research, The Commodity Report

The Commodity Report

Data-Driven Commodity Research

A unique newsletter about commodities and macro analysis in a weekly format.

<ul><li>Too much rain in Brazil and worries about the drought conditions in the US corn belt are driving soybean prices higher.</li><li>The north of Mato Grosso received 150-200mm during a few days of last week and more heavy rains are forecasted until the beginning of next week.</li><li>Many farmers already report demaged beans and as a result corn planting is also lagging.</li></ul>

Too much rain in Brazil and worries about the drought conditions in the US corn belt are driving soybean prices higher.The north of Mato Grosso received 150-200mm during a few days of last week and more heavy rains are forecasted until the beginning of next week.Many farmers already report demaged beans and as a result corn planting is also lagging.

<ul><li>At this point of time these massive swings in precious metals are clearly driven by speculants. During the week we had extreme intraday swings.</li><li>Friday was the most agressive selling day. Gold lost 12% during a day which for an often called safe haven asset is crazy.</li><li>The more volatile silver even had an intraday price swing of 35%. </li></ul>

At this point of time these massive swings in precious metals are clearly driven by speculants. During the week we had extreme intraday swings.Friday was the most agressive selling day. Gold lost 12% during a day which for an often called safe haven asset is crazy.The more volatile silver even had an intraday price swing of 35%. 

Historic Metals Crash: How we view these massive swings in Gold, Silver and Platinum

Podcast by J.P. Morgan analysts on global markets, At Any Rate

At Any Rate

Podcast by J.P. Morgan analysts on global markets

Analysts from J.P. Morgan’s Research team take a closer look at the stories behind some of the biggest trends, themes and developments in markets today.

<ul><li>Precious metals experiencing volatility, with gold up 18% in January and silver up over 40% this year</li><li>Correction in gold market seen as healthy and not overdue, with medium term target of $6,000 per ounce</li><li>Copper market experiencing intense volatility, with record levels hit and China's involvement impacting market dynamics</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Precious metals experiencing volatility, with gold up 18% in January and silver up over 40% this yearCorrection in gold market seen as healthy and not overdue, with medium term target of $6,000 per ounceCopper market experiencing intense volatility, with record levels hit and China's involvement impacting market dynamicsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global Commodities:  A week of commodity whiplash

<ul><li>Valuations were fair on last Friday, with the exception of the media-reported rate check by New York Fed for the Japanese yen which triggered a rise in the dollar and metals trade.</li><li>Despite potential consolidation and pullbacks ahead of payrolls, the macro backdrop favors pro-cyclical currencies and a weaker dollar.</li><li>Gold is believed to have a structural bullish trend, while silver may experience a sharp correction due to speculative overextension, and copper's rally is driven by Chinese flows and supply constraints.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Valuations were fair on last Friday, with the exception of the media-reported rate check by New York Fed for the Japanese yen which triggered a rise in the dollar and metals trade.Despite potential consolidation and pullbacks ahead of payrolls, the macro backdrop favors pro-cyclical currencies and a weaker dollar.Gold is believed to have a structural bullish trend, while silver may experience a sharp correction due to speculative overextension, and copper's rally is driven by Chinese flows and supply constraints.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Global FX and Commodities: The dollar, metals, APAC and vols

United States

Silver is the metallic element with the atomic number 47. Its symbol is Ag, from the Latin argentum, derived from the Greek ὰργὀς (literally "shiny" or "white"), and ultimately from a Proto-Indo-European language root reconstructed as *h₂erǵ-, "grey" or "shining". A soft, white, lustrous transition metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. The metal is found in the Earth's crust in the pure, free elemental form ("native silver"), as an alloy with gold and other metals, and in minerals such as argentite and chlorargyrite. Most silver is produced as a byproduct of copper, gold, lead, and zinc refining.

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Silver (SILVER COMDTY)

Overview #50 — A New Japan Meets a Nervous Dollar

A review of recent events/data impacting our investment themes and outlook. We look at the implication sof the Japanese eelction results

Rikki Malik

7% Within a Week - Soybean Price Rally

The north of Mato Grosso received 150-200mm during a few days of last week and more heavy rains are forecasted until the beginning of next week.

The Commodity Report

Historic Metals Crash: How we view these massive swings in Gold, Silver and Platinum

At this point of time these massive swings in precious metals are clearly driven by speculants. During the week we had extreme intraday swings.

The Commodity Report

Global Commodities: A week of commodity whiplash

Precious metals like gold and silver are experiencing volatility, with gold undergoing a healthy correction and a structural bullish story, while...

At Any Rate

Global FX and Commodities: The dollar, metals, APAC and vols

Overall, valuations were mostly fair in the market last week, with some exceptions such as the rate check on the Japanese yen leading to a surge in...

At Any Rate

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52-week Range

Market Cap (USDm)

P/E

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