Tag Archives: energy

Energy Posts Gains and Petroleum Boasts Improved Roll Yields

The S&P GSCI was up 1.4% with a YTD return of 1.3% in November. Of the five sectors in the index, energy and agriculture were positive for the month, up 3.4% and 0.5%, precious metals was flat, while industrial metals and livestock finished the month on a negative note, down 3.2% and 5.5%, respectively. The Read more […]

September Splits Commodities, Led By Strong Energy

The energy fundamentals, helped by Hurricane Harvey, are now in place for solid rebalancing and for potentially continued strong performance. Metals have reflected bullish sentiment but have recently been hindered by Chinese growth and credit concerns. Agriculture has been well oversupplied on better than expected weather and from improving farming technologies. In September, three of Read more […]

Chinese Demand Growth Lifts Every Commodity

Many news headlines point to rising or falling Chinese demand growth as a main influence of commodity performance.  However, there are many other fundamentals like the U.S. dollar and interest rates that drive commodities.  Even in the Chinese market, there are forces besides demand growth like demand for storage and demand for metals to be used as financial Read more […]

Energy Just Had Its Worst Start in 19 Years

Commodities just had their worst start in seven years.  The S&P GSCI Total Return lost 10.2% year-to-date (YTD) ending June 30, 2017, logging its worst first half (H1) performance since the first six months of 2010 when it lost 11.2%. However, it’s not the bloodbath it may seem to be.  Half, or 12 of the Read more […]

Commodities Ex-Energy Are Fine Despite Contango

Energy is back in a bear market now led by oil’s slide mainly due to rising output from Libya and Nigeria, two OPEC members exempt from cutting supply.  The S&P GSCI Energy Total Return is on pace for its worst quarter since the fourth quarter of 2015 losing -13.4% quarter-to-date (through June 19, 2017.) This is driven Read more […]

Will Oil’s Madness Upset Industrial Metals?

Although many analysts anticipated U.S. oil producers would fill the gap from production cuts by OPEC and some non-OPEC producers, not many probably guessed Brent would have its second worst Q1 in history, losing 7.6%, after the implementation of the production cuts.  According to the Information Energy Agency (IEA,) the U.S. saw a triple surge in Read more […]

Will The U.S. Oil Bath Wipe Industrial Gains Clean?

U.S. home prices hit a new record high as measured by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index setting an all-time high in three consecutive months (with data ending in Nov.) It’s not the only indicator showing signs of growth and inflation as U.S. consumer spending accelerated in December as households bought motor vehicles Read more […]

When Will This Oil Contango End?

Today “oil jumps to a nearly 3-week high as output cuts take hold” as March West Texas Intermediate crude CLH7, +1.82%  rose $1.03, or 2%, to settle at $53.78 a barrel on the New York Mercantile Exchange—the highest settlement since Jan. 6. The S&P GSCI Crude Oil (Spot Return) is now positive in 2017 through Jan. 26, up Read more […]

An Unusual Thing Happened In August: Only Energy Rose

For the first time since March 2008, energy was the only positive sector in the S&P GSCI for the month in Aug.  Energy gained 6.2%, while agriculture, industrial metals, livestock and precious metals lost 5.7%, 3.2%, 0.4% and -4.0%, respectively.  Not only is this the first month in over 8 years for energy to rise alone, but it has only Read more […]

Rieger Report: Muni Bonds – the States Leading and Lagging 2016

The municipal bond market tracked by the S&P Municipal Bond Index has seen a 4.11% year-to-date return.  Investment grade municipal bonds tracked in the S&P National AMT-Free Municipal Bond Index have seen a 3.95% return. What states are leading the pack?  The answer includes some of the states that have been performance drags in the past.  Municipal Read more […]