The month-long commodity rally hit a major obstacle during the latter part of June as the risk of recession continued to take hold in people’s minds. With the war in Ukraine, China still struggling to find a growth gear amid its controversial zero tolerance approach to Covid outbreaks and the wider world, led by the US responding to the negative impact galloping inflation has on consumers’ propensity to spend, the outlook has indeed worsened. During the past month, the Bloomberg Commodity Index has given back 12%, thereby in month giving back close to half the gains the sector had delivered since last December. As ... (full story)