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Can a correction in commodities puncture the equity rally?

The current shakeout should be viewed as a healthy bull market correction.

June 18, 2021 / 04:13 PM IST
Can a correction in commodities puncture the equity rally?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The initiation of taper talks by the US Federal Reserve has spooked the commodity space triggering a sell-off across metal, miners and oils. The upward bias in US 10-year bond yields and rise in the dollar index will continue to weigh on commodities in the near term as inverse relation of dollar and commodities plays out. In addition, the FOMC (Federal Open Market Committee) projections suggest the US central bank could hike policy rates earlier than previously anticipated. This can lead to...

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