Macro Briefing: 20 May 2024

* Iran’s president dies in helicopter crash
* Gold rises to record high in early Monday trading
* Copper hits record high in anticipation of deepening supply shortages
* Do the new Biden tariffs mark the end of cheap Chinese goods for US?
* US Leading Economic stays negative in April as growth persists:

The Congressional Budget Office, which reports on the nation’s fiscal condition, projects that debt held by the public, will rise from the current 99% of GDP to 116% over the next decade–a record high. “We’re running big structural deficits, and we’re going to have to deal with this sooner or later, and sooner is a lot more attractive than later,” Fed Chair Jerome Powell said last week.

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