Reciprocal Tariffs between the US and China are still on the table but negotiations are under way – it is too early to tell the results. Pressure has been applied by both sides, with China banning/cancelling US soybean purchases in preference for other locations as well as harassment of US…

Macro: Americas   US Economy is moving forward at a modest pace, with the Q4 2017 estimate increased slightly from +2.5% to +2.9% (annualized) at the most recent update largely on better than forecasted consumer spending but with small contributions across many areas. On the other hand, the Atlanta Federal…

Escalating Reciprocal Tariffs between the US and China caught the commodities world’s attention during March and into early April. The first round announced in early March of 15% to 25% levies on $50 billion of trade by the US in industrial metals products with the $3 billion Chinese response focusing…

Macro: Americas   US Economy is moving forward at a modest pace, with the Q4 2017 estimate reduced slightly from +2.6% to +2.5% (annualized) at the first usual update. While the Atlanta Federal Reserve is now projecting +2.8% annualized for Q1 2018 (lower than its first projections of +4.0%), South…