Bruce’s Metal Market Commentary – March 2019
There is an old Chinese proverb that states, “You should live in interesting times.” Actually, it is often said as a curse. Right now, we are certainly living in interesting times. Headline news includes a record $890 billion trade deficit for 2018, which is a 10-year record. The budget deficit is estimated at $1 trillion, and the GDP, which was close to 2.9% growth last year, is forecast to be about 1.5% for this year. Global GDP is still forecast at a very decent 3.0% to 3.5% growth rate, but it is trending down.