What is the Metal with a PhD in Economics Telling Us?

Copper has rather quietly displayed a good amount of weakness over the last few weeks and is down another 2.2% today. We highlight this because copper, having so many industrial and construction related uses, tends to be a good thermometer by which to measure the temperature of global growth. Admittedly, stocks have been sending a different signal over the last year, but we presume other factors could be at work there.