bearish

Gold

3 Hard Truths About ENSO Forecast

95 Views15 Sep 2026 08:10
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SUMMARY
  • The IRI/CCSR prediction plume goes out every month and travels far — onto commodity desks, into insurance notes, through agricultural outlooks.
  • It is among the most widely shared forecasts in macro, and among the least well read.
  • We backtested all 291 plume starts since May 2002, roughly 6,800 model runs, against the observed Oceanic Niño Index. Three things stand out.
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  • 3 Hard Truths About ENSO Forecast
    15 Sep 2026
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