Global Growth Aiding Iron Ore Is Bad News for German Debt: ChartBy
Signs of global economic optimism that tend to support iron ore and weigh on German bunds are being borne out in the growing divergence between the two assets. The pair’s 14-day correlation fell to -0.50 on Monday, the most negative level in four months. Iron ore has rallied into bull-market territory amid a pickup in economic indicators in China, the biggest importer of the steel-making material. For more market commentary, see Bloomberg’s Markets Live Blog MLIV <GO>.