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New Year rally comes to an abrupt end

Commodity prices fell back in February due to worries about the global economy, renewed tensions in the euro-zone and fears of an early halt to QE in the US. These factors were reflected in a stronger dollar too. While some of these concerns may be premature, the recent poor performances of crude oil and copper have prompted us to bring forward some of the price weakness we had already anticipated for the second half of the year.

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