A Pot of Cotton at the End of the Rainbow Year-to-Date S&P GSCI is off 0.19%

The S&P GSCI Agriculture is the best performing sector MTD, up 1.3%.  This is mainly due to the S&P GSCI Cotton, which gained 5.0% this week, bringing its YTD return up to 19.5%. It is the best performing commodity in the index this year, mainly driven by solid mill buying and U.S. exports. The U.S. Read more […]

US Municipal Bond Market Data – March 14, 2013

High yield municipal bond yields and relative spreads to investment grade munis have moved to lows not seen since 2008.  The S&P Municipal Bond High Yield Index has shown a positive total return of over 1.68% year to date and over 14% since this time last year.  The yield spread between high yield and investment Read more […]

Low Volatility: Active or Passive?

A recent posting suggested that institutional investors interested in exploiting the low volatility anomaly should do so by using active managers rather than one of the several passive vehicles available.  Far be it from me to criticize anyone for talking his own book, since I’m about to do it – but this is reminiscent of Read more […]