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Economics & Strategy – Commodities: Second

Deutsche Bank repeats in second place under the guidance of London-based Michael Lewis.

Michael Lewis
& team
Deutsche Bank

Deutsche Bank repeats in second place under the guidance of London-based Michael Lewis. “He’s a pro,” declares one backer. The seven-member crew attributes last year’s falling prices for coal, iron ore and steel to China’s slowing economy. “While an upturn in Chinese growth might help to reverse this weakness, we believe it would be temporary,” Lewis says. However, the analysts believe that base and platinum-group metals will outperform gold over the next few years as the dollar strengthens — dollar cycles typically last five years, he notes. So they’re urging clients to buy palladium and platinum, in light of rising demand for catalytic converters in the automobile sector and ongoing supply-disruption risks in South Africa. — Carolyn Koo


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