$XLB

Commodity demand should strengthen through 2027 as global real-economy expansion continues well after the liquidity peak, favoring industrial commodities over financial assets.

Industrial commodities have a favorable short-to-medium-term outlook in the reflation regime, with stronger nominal growth supporting demand for cyclical real assets.

Commodity markets should rise as strong real-economy demand absorbs liquidity from financial assets, with commodity strength signaling an ongoing economic boom.

Copper is the preferred AI-related short because speculators are crowded long, price has gone nowhere, and bullish news has failed to sustain gains.