start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

I say things on Twitter


Yes, a nice move in copper today, but... ça change, plus c'est la même chose:

The new normal continues, right up to the moment when it doesn't.

And generally speaking, any sudden move in anything at the end of a quarter is easy to discard, remember there are a lot of fund managers who make most of their money on performance bonuses. Dress those windows, guys.