Рекордный рост меди на фоне спроса на ИИ сигнализирует о макрорисках

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Медь достигла рекордного максимума в $6,06 за фунт на этой неделе, что обусловлено спросом, связанным с ИИ, а не нарративом о драгоценных металлах, привлекающим внимание криптотрейдеров. Это расхождение подчеркивает, как промышленные товары реагируют на структурные сдвиги в технологической инфраструктуре, в то время как рынки цифровых активов остаются сосредоточенными на традиционных хеджах от инфляции, таких как золото и серебро.
Ралли меди имеет значительные макроэкономические последствия, потенциально изменяя траекторию процентных ставок Федеральной резервной системы, сигнализируя о сохраняющемся инфляционном давлении со стороны промышленного спроса. Это создает среду 'высоких ставок на более длительный срок', которая может ограничить потоки ликвидности в рисковые активы, включая криптовалюты, поскольку ужесточение денежно-кредитной политики сохраняется для борьбы с инфляцией, вызванной товарами.
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