The Gist: (1) February data for GM2 showed further deceleration in GM2 of (3.5%) y/y. Oil bulls beware. (2) GM2 is more timely indicator of the Global Credit Cycle than what others provide. (3) I track GM2 because it leads OECD Petroleum Inventories.
Rob here with Crude Chronicles and welcome back. I updated my GM2 versus oil price chart, to check in on…
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