StanChart’s Clients Craving Oil, Copper Told to Beware Inflation
- Commodities could be at risk from higher rates, Robertsen says
- StanChart now predicts Fed will only cut rates twice this year
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Some Standard Chartered Plc clients are increasingly favoring tangible assets like copper and oil, an approach that worries the UK bank’s chief strategist given the possibility that US interest rates might have higher to go.
A rally in commodities reflects a view that “something doesn’t make sense” in equity and bond markets, compounded by a backlash among investors against rising government debt and spending, according to Eric Robertsen, who’s also StanChart’s head of global research.