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THE BRIDGE OF DEATH ·A series of absurd market questions
The Bridge of Death
You are a Knight of the Round Table on quest. The road to the Grail requires crossing the Gorge of Eternal Peril, and the only way across is the Bridge of Death. There stands the Bridgekeeper, who asks three questions of every traveler. Answer rightly and he waves you past. Answer wrongly and — into the gorge you will be thrown. Each market below is a different bridge. Pick one. Good luck.
At the bridge
“STOP! Who would cross the Bridge of Death must answer me these questions three, ere the other side he see.”
, Gorge of Eternal Peril.
2 bridges open · 22 questions ready to cross.
LC
Live Cattle
A methane cloud waiting for a match, a line of cattle longer than the Earth is round, a 75-year herd low, and the Big 4 packer stack.
LH
Lean Hogs
A barn full of methane, the Chinese ASF pile, Iowa’s manure firehose, Tar Heel every two seconds, and the 295-day gestation calendar.
27 more bridges being built.
Each will carry 11 questions when it opens.
FC · Feeder Cattle
Mexican screwworm, the LC-FC spread, and the 650 lb threshold.
In the queue
GC · Gold
Central bank buying, the LBMA fix, and the real-rate backdrop.
In the queue
SI · Silver
Industrial demand, the gold-silver ratio, and the solar panel bid.
In the queue
HG · Copper
Grid electrification, the Chile strike risk, and the warehouse arbitrage.
In the queue
PA · Palladium
Catalytic converters, the Russian supply, and the EV substitution.
In the queue
PL · Platinum
South African depth mines, hydrogen fuel cells, and the Pt-Pd ratio.
In the queue
CL · Crude Oil
OPEC spare capacity, the Cushing bottleneck, and the shale breakeven.
In the queue
BZ · Brent
North Sea depletion, the Red Sea diversion, and the WTI-Brent arb.
In the queue
NG · Natural Gas
Henry Hub storage, LNG export capacity, and the shoulder season.
In the queue
HO · Heating Oil / Diesel
The distillate crack, Russian product sanctions, and the winter draw.
In the queue
RB · RBOB Gasoline
Summer blend, the refinery turnaround, and the LA-NY arb.
In the queue
C · Corn
Pollination week, the ethanol mandate, and the Ukraine corridor.
In the queue
S · Soybeans
China crush, the Brazil safrinha, and the stocks-to-use.
In the queue
W · Wheat (SRW, HRW, HRS)
Winter kill, the Black Sea export corridor, and the three-class basis.
In the queue
RR · Rough Rice
The thin futures contract, India’s export ban, and Arkansas basis.
In the queue
KC · Coffee (Arabica, Robusta)
Brazilian frost, Vietnamese drought, and the C-market stocks.
In the queue
CC · Cocoa
West African disease, the Harmattan dry wind, and the grind data.
In the queue
SB · Sugar (Raw, White)
Brazilian cane-ethanol split, Indian export curbs, and the white premium.
In the queue
LBR · Lumber
US housing starts, Canadian beetle kill, and the random-length-vs-mill-block futures.
In the queue
CT · Cotton
Texas drought, China reserve releases, and the man-made fiber substitution.
In the queue
ES/NQ/RTY/YM · US Equity Indices
Mag 7 concentration, the 0DTE flow, and the Fed-funds path.
In the queue
FESX/HSI · EU & HK Equity Indices
The German manufacturing cycle, the Hong Kong listing drought, and the ADR arbitrage.
In the queue
TU/FV/TY/US · US Treasuries
QT runoff, the 2s10s shape, and the dealer balance-sheet constraint.
In the queue
FGBL · Bund
ECB policy, the Bund-UST spread, and the Italian-German fragmentation risk.
In the queue
JGB · JGB
YCC exit, the BoJ holding share, and the carry unwind.
In the queue
DX/6E/6B · DXY & G10 FX
The dollar smile, the ECB-Fed divergence, and the pound Brexit scar.
In the queue
BTC · Bitcoin
ETF flows, the halving cycle, and the exchange-reserve drain.
In the queue