"The prices of constrained real assets tend to appreciate in times of ample liquidity," writes...

|By:, SA News Editor

"The prices of constrained real assets tend to appreciate in times of ample liquidity," writes BAML's Francisco Blanch, simply explaining crude oil's recent rise (Brent priced in euros taking out its 2008 high). Predicting occasional spikes to $200, Blanch nevertheless sees the big gap between crude and gas prices triggering large-scale substitution.