Chart Of The Day: Commodities Versus China

On Wednesday night, we excerpted a new Goldman note that looks at the extent to which we can expect further commodities carnage as a result of China's "targeted tightening." Here's an excerpt for our post: They’re trying to rein in shadow lending and anything that finances risk taking while preserving the credit impulse to the real economy. It’s a tough thing to do but it looks like they’re kinda, sorta pulling it off. But — and this is a very big “but” — no one is really sure wh