Prices of copper in the US have surged since January, when President Donald Trump threatened to impose a tariff on imports of the metal that’s a vital component in power networks, plumbing and industrial machinery.

Copper prices are typically an economic benchmark because the metal is widely used in construction and industrial manufacturing.

“This is not consistent,” Sløk adds. “Either the bond market is wrong, and rates must move higher due to accelerating growth. Or, equity markets are wrong, and stocks have to move lower because growt...

Following the passage of its tax cut and spending bill last week, the Trump administration promised more trade deals