Best Macro Economic Hedge? Copper Puts
January 23, 2015 at 09:10 AM EST
Goldman Sachs is telling clients that copper puts are its favorite global macro hedge. In a morning note to clients, John Marshall, Goldman’s derivatives strategist, noted that the 12-month copper price has declined 12% over the past month, but options prices on copper are only at long-term average levels. As he writes in a pre-market [...]