Pump-Then-Dump Cycles: Energy, Metals & Macro Signals: BI Recap

Commodities have surged back into focus, with the Bloomberg Commodity Index Total Return up about 25% in 1Q — yet longer-term context tells a more cautionary story, with the index still near 2007 levels. The sharp reversal in US natural gas — from a 100% gain earlier this year to a double-digit decline — mirrors the 2022–23 boom-bust cycle and may signal a broader pattern: rapid commodity spikes that ultimately unwind. - Is crude oil nearing a peak — and could its surge be accelerating recession risks, as in prior cycles? - Are gold, silver and copper entering a classic “price-cure” phase following volatility spikes? - Do key thresholds — $5 corn and $12 soybeans — indicate supply normalization and downside risk ahead? - Is the “pump-then-dump” dynamic spreading across commodities, crypto and equities, signaling broader risk repricing? Join Mike McGlone, Senior Commodity Strategist for a cross-asset outlook on whether commodities are nearing a cyclical peak and signaling a shift toward disinflation or deflation. He will be joined by Will Hares, Senior Analyst, Energy, Grant Sporre, Senior Analyst, Metals & Mining, and Jason Miner, Global Head of Agriculture, who will provide sector-specific insights across energy, metals and grains.