2020 FX & Commodities YTD Performance

What a miserable year for the US dollar. As goes the December as went the year in FX, while silver & soybeans topped commodities, as oil & coffee ranked bottom in the % Change YTD league. The final weeks of the year have shown a clear outperformance of iron ore and silver, followed closely by a sharp ascent in energy---- all typical signs of expectations for a global recovery & further USD damage. Will these markets be right? Will Copper "Mr PhD in Economics" be finally at fault?  Will the Medical-Quanttv-Easing of the vaccine swell indices to new heights? Most importantly, will this be accompanied by a boost in nominal yields as well as REAL yields? If inflation does fails to keep up with rising yields, gold and silver may sustain fresh downside. Take a look at this yields chart and stay tuned. 

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