How Sustainable? Record-Setting Beta, Copper, Gas - Above 4.50 on Nov. 21, both pounds of copper and MMBtu's of natural gas could end 2025 at multiyear highs, with inflationary implications. Or they might retreat, as is typical of autocorrelated commodities. I lean toward the latter, and the graphic highlights a top reason why: the increasing reliance on a resilient US stock market. Full report on the Bloomberg here: https://blinks.bloomberg.com/screens/DOCV%20RES%20T5VAUAGQ1YQ4 {BI COMD} #naturalgas #copper #stockmarket @BBGIntelligence(Mike McGlone)