1 UBS, “Copper”, Global Research, 21 February 2022 2 IDTechEx, “The Electric Vehicle Market and Copper Demand”, June 2017 3 USGS, “Copper”, January 2022 4 Statista, “Leading copper miners worldwide in 2020”, 17 November 2021 5 BGR, “Copper – Sustainability Information”, July 2020 6 Nornickel, “Annual Report 2020”, May 2021 7 Goldman Sachs, “Green Metals”, Commodities Research, 13 April 2021 8 同上 9 Société Générale, “Metals & Mining”, Cross Asset Research, 18 March 2021 10 同上 11 同上 12 Goldman Sachs, “Green Metals”, Commodities Research, 13 April 2021
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Adjusting to the new regime
With interest rates set to stay “higher for longer”, investors are adjusting to a new regime where exuberance will be in short supply. But we see potential opportunities emerging within bonds and equities in the longer term.
Diverging economic and monetary policy paths are feeding through to government bond markets, presenting risks and opportunities for investors. In the second of four articles exploring ways that investors can reset bond allocations, we discuss ideas for navigating the divergence in central bank policy, inflation, currency risks and economic performance.