Over the past few weeks, as supply chain warnings from the “Godfather of commodities” Jeff Currie and others have confirmed one after another, a broad commodity bull market that transcends oil and spans energy, agricultural products, and metals has accelerated. Many industry insiders are now worried that the increasingly tight supply of physical commodities facing the real economy will also begin to have a positive impact on corporate profits and US stock valuations. Well-known macro strategist Simon White warned in his latest report released on Wednesday that the boom in commodities is hiding the risk of squeezing corporate profit margins and weakening household spending. This raises questions: how long can the stock market last in the face of this inflationary shock that far exceeds the oil sector? White wrote that the stock market is reacting negatively to the risks of inflation and growth posed by commodities, and commodity prices have just reached levels not seen since 2012.

Over the past few weeks, as supply chain warnings from the “Godfather of commodities” Jeff Currie and others have confirmed one after another, a broad commodity bull market that transcends oil and spans energy, agricultural products, and metals has accelerated. Many industry insiders are now worried that the increasingly tight supply of physical commodities facing the real economy will also begin to have a positive impact on corporate profits and US stock valuations. Well-known macro strategist Simon White warned in his latest report released on Wednesday that the boom in commodities is hiding the risk of squeezing corporate profit margins and weakening household spending. This raises questions: how long can the stock market last in the face of this inflationary shock that far exceeds the oil sector? White wrote that the stock market is reacting negatively to the risks of inflation and growth posed by commodities, and commodity prices have just reached levels not seen since 2012.