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jim-wiederhold

Jim Wiederhold

Associate Director, Commodities and Real Assets, S&P Dow Jones Indices

Jim Wiederhold is Associate Director of Commodities and Real Assets at S&P Dow Jones Indices (S&P DJI). He is responsible for the product management of the commodities and real assets indices, including the S&P GSCI, Dow Jones Commodity Index (DJCI), and S&P Real Assets Indices. These indices are designed to be leading measures of the commodities market and composite real assets.
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Nov 3, 2021

Gold Demand in India Bounced Back in 2021

In 2020, pandemic-driven lockdowns in India caused gold demand to drop. So far in 2021, Indian demand for gold is 500 tons greater, even with two months left in the calendar year. China has been the primary destination for gold over the past few years and that continued this year, but a strong pickup in…

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Oct 18, 2021

Crypto versus Gold – The Store of Value Debate

In a blog post from earlier this year, I outlined comparisons between Bitcoin and gold. In this post, we’ll look at how the underlying investment theses for each asset have rapidly evolved this year. Prior to 2021, some market participants viewed Bitcoin as a form of digital gold, sharing many of the same use cases,…

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Oct 4, 2021

The S&P GSCI Was Energized in September

The S&P GSCI, the broad commodities benchmark, rose in September by 6.0%. Energy-related commodities were the outperformers on the back of what may prove to be a lasting global energy supply crunch. Agriculture and metals were mostly lower over the month. Record natural gas and electricity prices in Europe, record coal prices in China, multi-year…

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Aug 2, 2021

Commodities Rise with Inflation in July

The S&P GSCI rose for a fourth consecutive month, by 1.6% in July, as the main positive catalysts of 2021 remained in play. Many individual commodities constrained by supply chain bottlenecks and disruptions continued to be in deficit around the world. Half of the U.S. experienced drought conditions last month, compared to 25% this time…

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Jun 10, 2021

Getting Dynamic with Commodities – Part 2

In part 1 of this two-part blog series, we discussed the characteristics of the S&P GSCI Dynamic Roll and the two main concerns this index attempts to alleviate, which are negative roll yield and volatility in commodities futures. Diving a bit deeper, we explore the recent performance of a diversified hypothetical portfolio when the S&P…

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Jun 9, 2021

Getting Dynamic with Commodities – Part 1

Launched just over 10 years ago, the S&P GSCI Dynamic Roll was the first dynamically rolling commodity futures index to be offered by a major index provider. What does it mean to dynamically roll? Exhibit 1 describes the process in detail. Employing a flexible monthly futures contract rolling strategy, the S&P GSCI Dynamic Roll is…

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May 3, 2021

Commodities Burst Higher in April

Several commodities made new all-time highs, as the global economy reflated, consumer confidence hit pre-pandemic highs, and housing prices in the U.S. jumped the most in 15 years. The S&P GSCI continued to perform well, rising 8.2% for the month to start the second quarter, following a strong 13.5% in the first quarter. Most commodities…

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Apr 26, 2021

Expanding the Non-USD Denominated S&P GSCI Single Commodity Index Series

Concerns of a rising U.S. dollar may pose a hindrance to initiating commodity exposure from outside the U.S. Most commodities around the world are priced in U.S. dollars, so when the value of the U.S. dollar rises, the value of commodities typically falls. The launch of new non-U.S.-dollar-denominated S&P GSCI Single Commodities Indices could help…

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Apr 20, 2021

One Year after the Rapid Reset

What a difference a year makes. April 21, 2021, marks the one-year anniversary of the S&P GSCI’s low. Since then, we have entered a different economic, social, and geopolitical environment, and the S&P GSCI was up 60% as of April 19, 2021. On March 26, 2020, three days after the low in the S&P 500®,…

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Mar 30, 2021

Concerned about Inflation? Here’s a Tip

The newly launched S&P GSCI (U.S. 10-Year TIPS) TR was designed with inflation protection in mind. This index takes the renowned broad commodity market benchmark, the S&P GSCI, and aims to add boosted return potential from an exposure to on-the-run U.S. 10-Year Treasury Inflation-Protected Securities (TIPS). Normally, the S&P GSCI TR includes the collateral yield…

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