Commodity Market Volatility Spikes Amid AI, Oil Price Shocks

The commodity market is experiencing significant volatility due to various factors, including the impact of AI and oil prices on popular hedge fund dispersion trades. Emerging market investors are shunning riskiest bonds as US yields soar, while Barrick Mining has reached a deal with Mali unions to avoid strikes.

Gold Fields has expressed interest in buying Northern Star, and the Trump-Xi summit yielded a coal pledge as tariff talks extended. Hedge funds have cut bullish yen bets after the BOJ held back on rate vows, and cocoa market supply disruptions are expected to linger as Ghana raises prices.

Cargo ships from the US are delivering food and fuel to Cuba despite the Trump blockade, boosting the island's private sector. The FDIC is concerned about Polymarket wagers on bank failures, and Apollo's Slok warns that the Fed risks overlooking diesel-price danger.