Iron Ore – The latter half of 2021 has not been kind to iron. After more than doubling from early 2020 to the midpoint of this year, a whirlwind of worries have combined to push the price down more than 40% from its peak. The primary culprit? Coronavirus. The disruption in production facilities caused by the pandemic that contributed to the price appreciation has come back to bite the commodity. The virus has caused discombobulations in global supply chains alongside the spread of the Delta variant which has caused concerns over global demand, especially in China. And with anything in financial markets, you can't escape the Fed. Taper talks have spooked traders in every asset class, and like many other commodities, iron has fallen victim as well.
Digital Currencies – If you are awake and reading this, you heard that BTC hit $50k over the weekend. Congrats, apes, we made it back, hitting this all-important level for the first time since mid-May. Perhaps even more importantly, on a long term technical basis, much stronger support levels have been formed in the $30k - $35k range, suggesting the next downturn will have a tough time reaching and breaking those levels. Of course, this also means that if those levels are broken in another downturn, that downturn could become much...much worse. Either way, let's enjoy it while it lasts as the asset class rebounds once more.