Prices
April 30, 2020
Hot Rolled Futures: Ferrous Markets and Stocks vs. Crude - A Widening Gap
Written by Tim Stevenson
SMU contributor Tim Stevenson is a partner at Metal Edge Partners, a firm engaged in Risk Management and Strategic Advisory. In this role, he and his firm design and execute risk management strategies for clients along with providing process and analytical support. In Tim’s previous role, he was a Director at Cargill Risk Management, and prior to that led the derivative trading efforts within the North American Cargill Metals business. You can learn more about Metal Edge at www.metaledgepartners.com. Tim can be reached at Tim@metaledgepartners.com for queries/comments/questions.
We’ve started to see some of the ugly economic data we’ve all been expecting. The Markit U.S. Manufacturing PMI fell to 36.9 vs. 48.5 last month, durable goods orders fell 14 percent, the University of Michigan Sentiment Index dropped to 72, the Dallas Fed index dropped to -74, etc. It’s bad, and the terrible economic numbers will keep on coming for the next weeks/months. So, what is going on with the stock market?
