Back on Sept 9 we discussed the directional relationship of 10-year YIELD and Copper prices.
Although I am not sure what the positive connection is (better eco growth, less copper supply concurrent with upward Fed pressure on rates?) the fact remains, that for the time being, YIELD and COPPER appear to be on a similar upward price trajectory.
Today's Fed decision should impact both markets, but will they continue to be directly-related?
My sense is that Copper is heading higher in any scenario other than a 25-bps rate hike accompanied by an uncharacteristically-hawkish, Yellen-press conference, suggesting that a new rate-hike cycle is starting.