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Commodity reflation recap

As this collection of charts shows, there's an awful lot of upward price action out there in the world. Two things can explain this: a global revival of demand, and a global monetary reflation. Most importantly, the information revealed by these real-time, market-determined prices is directly contradictory to the pervasive concerns about the durability and breadth of the current recovery and the effectiveness of monetary policy. All of these charts reflect prices as of today or yesterday, and they are all at or very near their highs for the year, and not very far from reattaining their previous all-time highs that were set last year.

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