Same-Chart Syndrome: Metals, Bitcoin, Beta, Bonds That the copper futures contract's (HG1) 50-week correlation with the S&P 500 (SPX), at about 0.64, has never been higher on the way up (since 1988) may emphasize the stock-puppet status of the economically sensitive metal. My graphic featuring 50-week moving averages of the Bloomberg All Metals Total Return Subindex, Bitcoin and the 30-year US Treasury yield in SPX terms shows the same-chart directional connection and what's driving it. If beta keeps rising, so may yields and metals, but the first-born crypto has rolled over akin to 2022. Is it a warning or feint? Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tmw3t8rkv2tk {BI COMD} #Bitcoin #stocks #bonds #copper @BBGIntelligence