Part 5/12:
Oil Markets and Economic Signals
Turning to commodities, the expert predicts that the high in oil prices—around $90 per barrel—has likely peaked. Despite OPEC's intentions to cut production, expert analysis suggests the top has been reached, signaling potential economic slowdown. Falling demand and recent dips in oil prices imply weakening global growth, which could further depress inflation and yields.
This outlook suggests that rate cuts by the Fed are imminent, with expectations of multiple reductions forecasted for July, September, and November 2024—coinciding with election cycles. A weakening dollar and declining global reserve allocations hint at shifting currency dynamics, favoring Bitcoin and other decentralized assets.