Fiona Boal

Head of Commodities and Real Assets
S&P Dow Jones Indices
Biography

Fiona Boal is Head of Commodities and Real Assets at S&P Dow Jones Indices (S&P DJI). She is responsible for the product management of the commodities, real asset, and housing price indices, including the S&P GSCI, Dow Jones Commodity Index (DJCI), S&P CoreLogic Case-Shiller Home Price Indices, and S&P Real Assets Indices. These indices are leading measures of the commodities market, U.S. residential real estate prices, and composite real assets.

Prior to joining S&P DJI, Fiona worked as Director and Portfolio Manager at Fulcrum Asset Management, where she gained a wealth of experience in proprietary research and investment management, as well as specialist knowledge of energy, agriculture, soft, and livestock commodity markets. Previously, she worked as Associate Director of Commodities at Hermes Investment Management, Director of Commodity Research at Argonaut Capital Management, Vice President and Director of Investments at Harbert Strategic Commodities, and Executive Director of Food & Agribusiness Research at Rabobank International.

Fiona holds a bachelor’s degree in agricultural economics (first class honors and university medal) from the University of Sydney and a Master of Applied Finance from Macquarie University.

Author Archives: Fiona Boal

Commodities in October – Waiting Patiently for a U.S.-China Trade Deal

The broad commodities market rose modestly in October. The S&P GSCI was up 1.2% for the month and up 10.0% YTD. The Dow Jones Commodity Index (DJCI) was up 1.9% in October and up 6.7% YTD. Gains were spread surprisingly evenly across the individual commodity markets As has been the case all year, the star Read more […]

Adding Liquidity to the Global Dairy Market – S&P DJI Launches S&P GSCI Skim Milk Powder

On Oct. 21, 2019, S&P Dow Jones Indices (S&P DJI) launched the S&P GSCI Skim Milk Powder, an expansion of the single-commodity series offering of indices based on the S&P GSCI and the first index of its kind in the market. The S&P GSCI Skim Milk Powder is designed to provide investors with a reliable Read more […]

Commodities September – Short-Term Supply Shocks

Despite the largest one-day spike in oil prices since at least 1989, the broad commodities market only managed to climb modestly in September. The S&P GSCI was up 1.7% for the month and 8.6% YTD. The Dow Jones Commodity Index (DJCI) was up 1.4% in August and up 4.7% YTD. Rallies in the agriculture and Read more […]

Saudi Oil Attacks – A Text Book Supply Shock

The attacks on Sept. 14, 2019, on Saudi Arabia’s oil facilities have put the oil market back in focus for investors and policy makers alike. The event was reported to have been the largest single supply disruption in the oil market for half a century, crippling half of Saudi oil production and temporarily halting production Read more […]

August 2019 Commodities Performance Highlights – Tweets, Trade, and Tumult

Commodities markets struggled under the weight of an acceleration in trade tensions between the U.S. and China and growing evidence of a slowdown in global economic activity in August. The S&P GSCI was down 5.6% for the month but remained up 6.7% YTD. The Dow Jones Commodity Index (DJCI) was down 2.7% in August and Read more […]

July 2019 Commodities Performance Highlights – A Nickel for Your Thoughts

Commodities markets hit the summer doldrums in July. The S&P GSCI was down 0.2% for the month and 13.1% YTD. The Dow Jones Commodity Index (DJCI) was down 0.8% in July and up 6.1% YTD, reflecting its lower energy weighting. Impressive rallies in nickel and silver markets were pitched against a slump in agriculture prices, Read more […]

Palladium – All That Glitters Is Not Gold

Much has been made during recent months of the renewed interest investors have shown in gold on the back of growing financial market turbulence, a plethora of geopolitical flashpoints, and a string of economic releases that have fallen short of expectations. But gold has not been the shiniest precious metal this year; back in January, Read more […]

Commodities Performance Highlights – June 2019

Commodities markets resumed their upward trajectory in June. The S&P GSCI was up 4.4% for the month and up 13.3% YTD. The Dow Jones Commodity Index (DJCI) was up 3.1% in June and up 6.9% YTD, reflecting its lower energy weighting. A recovery in petroleum prices and an impressive rally in gold were the main Read more […]

Commodities Performance Highlights – May 2019

There was a notable reversal of fortunes across the commodities complex in May. The S&P GSCI was down 8.2% for the month but remained up 8.5% YTD. The Dow Jones Commodity Index (DJCI) was down 3.6% in May and up 3.7% YTD, reflecting its lower energy weighting. A sharp correction in petroleum prices combined with Read more […]

Commodities Markets Can Provide Valuable Insights into the State of the Global Economy

Notwithstanding the recent correction associated with renewed trade tensions between the U.S. and China, a strong start to the year for global equity and commodities markets suggests a strong macroeconomic backdrop and a high risk appetite among investors. However, when drilling down into the performance of individual commodities sectors, it is clear that the situation Read more […]