Well, here we go again. Oil is up a buck fifty this morning to a new record high, and other commodities are following suit. Natural gas is up 15c (1.5%), sugar is up 33 ticks (almost 3%), gold is up almost 1%, and rice is limit up (2.5%). The PPI figure published this morning showed a 1.1% increase for the month of March, mostly due to energy costs. Today's gains certainly are not going to help April's figure.
Anyone still wondering where all the excess liquidity being pumped by the Fed is going?