Wouldn't necessarily call Warsh more hawkish; difference is the loyalty factor versus someone like Hassett.

Recent corrections in metals have been buying opportunities; the uptrend is driven by erosion of Fed credibility, geopolitics, and fiscal risks.

Copper demand destruction is a concern, but structural demand for the green transition limits downside.

Oil downside limited into the weekend due to uncertainty over potential US military action regarding Iran.

Europe diversifying away from US LNG is very difficult; US will be a key part of EU energy import deal.