Commodities · Complex

Energy, precious + industrial metals, agriculture, and shipping. Cross-ratios (Gold/Silver, Copper/Gold, WTI-Brent, crack spread) carry the macro signal. Shipping covers BWET (Breakwave Tanker Shipping ETF, tanker freight-rate futures) + an oil-tanker equity basket as the free proxy for tanker rates. Includes metals overextension vs SPY/DXY with a ^TNX yield-headwind framing (Yahoo GC=F+SI=F).