The Pipes I Used to Rip Out Now Run the World

Miners. Metals. Emerging markets. It’s not a prediction—it’s a signal.

Almost 15-20 years ago, I was ripping copper wires out of houses—anything abandoned, anything forgotten. Not for some smart trade. Not to invest. I was feeding an unquenchable habit. Survival mode. You do what you have to do. Regretfully.

Back then, copper was just scrap. Something heavy you could get cash for. But even then, I knew it mattered. It had weight. It had value. Most people walked right past it.

I didn’t.

Buying metals as a kid helped me know there was value there.

If I’d held onto all that copper? It’d be up 10x today. But the copper miners? They did even better—some of them ran 30x in the next 5-10 years.

That’s the difference between selling the metal and owning the cycle.

Funny how things work. I used to tear down houses. Now I build properties and portfolios. And the stuff I was dragging out of basements in my early twenties? It’s become one of the most important signals in global macro.

Because when copper moves, it’s not just a price change—it’s a regime shift.

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Recently, copper just posted the highest monthly close in history.

Quietly, persistently, and without permission. And it’s happening at the same time the 30-year Treasury yield is breaking higher. Again, not a coincidence. It’s confirmation.

Everyone keeps assuming the Fed is done. That rates peaked in 2023. That the next move is down.

But here’s the thing: the market disagrees.

The long end of the curve has been quietly grinding higher for most of 2025. Not in a panic. Not in a spike. Just trending. The Fed Funds rate has been flat for months, but the 30-year? It’s pushing toward 5%.

And if it breaks out, it’s telling us loud and clear: the disinflation story is dead.

This disconnect isn’t new. It’s part of a pattern.

In 2018, the Fed kept hiking into weakness. The 30-year had already started rolling over, but Powell & Co. didn’t listen. They tightened one step too far, broke credit markets, and had to pivot fast.

The bond market saw it first. The Fed followed too late.

In 2024, it happened again—only in reverse. The Fed started cutting. And the bond market? It shrugged... then yields rose. Because that cut wasn’t about economic collapse. It was about politics and liquidity. The long end sniffed it out and started pricing in reflation instead of recession.

And now in 2025, we’re right back in that familiar tension.

On one side: consensus says the Fed will cut. On the other: the 30-year is saying growth and inflation are sticky.

So what happens next?

Copper is the truth serum. It doesn’t lie. And right now, it’s saying: expansion is coming.

When copper breaks out, you don’t just look at copper. You look at what it means.

It means global growth is waking up. It means capital is rotating. It means the cycle is turning.

And that brings us to international equities.

Copper isn’t just a metal. It’s a global macro barometer. A commodity so essential to infrastructure and production that it forecasts economic activity. And when it breaks out, it leads.

Right now, emerging markets are pressing against decade-long resistance. If $EEM gets through this base, it opens up massive upside.

Because copper doesn’t move in a vacuum. It moves with miners, with materials, with FX, with international small and mid-caps. It pulls capital with it.

That’s why we’re focused on this move. That’s why we’re watching the following three copper stocks like hawks:

1. Southern Copper Corporation ($SCCO)

Already in an uptrend. Holding above multi-decade resistance. This is the leader. This is what strength looks like. If the move is real, $SCCO is the tell.

2. Freeport McMoran Inc. ($FCX)

Coiling just under resistance. Long base. Rising trendline. One clean push above the prior highs and it’s blue skies above. Classic breakout setup.

3. Buenaventura Mining Company ($BVN)

Less known. More volatile. But it’s pushing into a major range and has room to run if it clears. Think of this as the high-beta kicker.

These are decade-long bases. Not short-term swings. Not a meme trade. This is how major moves begin.

The setup is here. The regime is turning. And if you’ve been watching price, none of this should be a surprise.

We’ve been pounding the table on this for weeks:

• Rising yields

• Global liquidity bottoming

• Copper strength

• International equity rotation

It’s not a story. It’s a signal. And the signal is loud and clear.

The commodity bull is here. The international breakout is coming. And copper is the guide.

You just have to follow it.

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Against All Odds Research

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