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But European miners proved remarkably resilient to the rates hike in one of their largest markets.
The impact will be higher in the second half of a year, when the full impact of the rates hike is felt.
The continent largely shrugged off the latest rates hike announced by China, taking the view that commodity prices are set to remain strong.
When inflation returns, he contends – and with the Fed's December interest rates hike, we're at the jump-off of that – everything is going to get increasingly wacky.
When inflation returns, he contends and with the Fed's December interest rates hike, we're at the jump-off of that everything is going to get increasingly wacky.
The seemingly sudden change of heart prompted my friend Ken Polcari to write, "...we had two NON-VOTING Fed Presidents - San Fran's Williams and Atlanta's Lockhart - talking up an interest rates HIKE in April.
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"Rate hike?
"After the rate hike, there was temporary euphoria.
The alternatives to a rate hike were unpalatable.
Not everyone is on board with a December rate hike.
(Twenty-five basis points would mean a rate hike of 0.25percentnt).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com