Continued optimism regarding the production and potential distribution of a COVID-19 vaccine has given renewed life to global markets which had given up nearly 30% of value at the onset of the COVID-19 pandemic. United States equity markets have since established new all-time highs while the US unemployment rate has declined to 6.7% in December of 2020 after peaking at 14.7% in April.
Similarly, COMEX Copper futures trended lower and then rebounded sharply. After cratering from approximately $2.8750 per pound to a low price slightly below $2 per pound in March of 2020, the price of copper has since reversed course and has rallied over 80% to establish a new high above $3.60 per pound, a level not seen since February 2013.
All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
