Salient to Investors:
China’s swap market is signaling interest-rate increases for the first time since 2011 after inflation accelerated to a 10-month high and the housing market defied government-cooling efforts.
Hedge funds are making the biggest bet against copper on record.
Edward Meir at INTL FCStone said China’s growth story remains intact, but has serious short-term concerns given the property bubble and the ratcheting up of the government response. Meir said the global outlook is patchy at best and copper supplies are outstripping demand.
LME said stockpiled copper is the highest since October 2003 and inventories have risen 77 percent in 2013.
Read the full article at http://www.bloomberg.com/news/2013-03-25/copper-falls-in-london-on-concern-china-use-slowing-lead-gains.html
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