"We are often told that the global economy is strong… that fears of a contraction are overblown… that China is still an engine for economic growth… and that the US has detached from the turbulence in the Emerging Market space.
If the above claims are true, then economically sensitive assets should be rallying as global demand propels them to higher prices.
But they’re not.
In fact, they ENDED their bull markets and have erased several DECADES’ worth of gains.
In the US, Coal has become a political hot button. Consequently it is very easy to forget just how important the commodity is to global energy demand. Coal accounts for 40% of global electrical generation. It might be the single most economically sensitive commodity on the planet.