Stocks, Metals - Definition of Same-Chart-Syndrome A prime example of same-chart syndrome is the Bloomberg Commodity All Metals Total Return Subindex (BCOMAMT) and the S&P 500 (SPX), with implications for broad commodities. The graphic featuring 50-week moving averages of the BCOMAMT and SPX on the same scale may highlight the silliness of the Federal Reserve cutting rates in 2025 with inflation above its target and stocks and metals on a tear. A mistake not to be repeated, and that is being reversed, is my take -- and a bottom line for broad commodities that could be a lose-lose. BCOMAMT's new high in 2026 -- making metals the only major commodity sector to reach one -- and its close connection with the stock market suggest the top risk to broad commodities is stocks. If metals and stocks keep rising, so may inflation and central-bank restraint. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tmxyhakijh8v {BI COMD} #copper #gold #metals #Stocks @BBGIntelligence