ProShares Trust Ultra VIX Short Term Futures ETF (UVXY): Chinese industry coming up short because...

ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

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Friday, 04/28/2023 1:35:40 AM

Friday, April 28, 2023 1:35:40 AM

Chinese industry coming up short because global demand is falling off so commodities prices like steel (or copper, iron, whatever) are retreating again as recession and deflation continues to develop. Meanwhile, CBers are fixated on unemployment rates convinced of inflation

Chinese industry coming up short because global demand is falling off so commodities prices like steel (or copper, iron, whatever) are retreating again as recession and deflation continues to develop. Meanwhile, CBers are fixated on unemployment rates convinced of inflation. pic.twitter.com/PUl5yYrmII
— Jeffrey P. Snider (@JeffSnider_EDU) April 28, 2023

China industrial profits correlate strongly w/China's PPI. China's PPI correlates strongly w/real commodity prices. Weakness in commodities because weakness in China industry due to weakness and recession around the rest of the world.

IOW, more deflation than inflation. pic.twitter.com/tg3AXLWkwO
— Jeffrey P. Snider (@JeffSnider_EDU) April 28, 2023

China industrial profits correlate strongly w/China's PPI. China's PPI correlates strongly w/real commodity prices. Weakness in commodities because weakness in China industry due to weakness and recession around the rest of the world.