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Tag Archives: copper

Aug 1, 2022

Commodities Rise 36% in 2022 after a Flat July

The S&P GSCI remained flat in July, holding on to a 36% YTD gain despite the bearish sentiment permeating the broad financial markets. This benchmark for world commodities has proven its merit during extremely hot inflation. The Fed hiked interest rates another 75 bps to fight inflation late in the month, but several factors across…

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Jul 5, 2022

Commodities Hit the Brakes in June

The prospect of higher interest rates, fears of a prolonged global economic slowdown and a strong U.S. dollar put the brakes on commodities prices in June. The S&P GSCI, the broad commodities benchmark, ended the month down 7.6%, taking YTD performance to 35.8%, still the best first half performance since 2008. The deteriorating economic outlook…

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May 3, 2022

Reductions in Risk Caused Disparate Returns for Commodities in April

Another higher inflation reading helped the S&P GSCI, the broad commodities benchmark, to post an additional 5.1% gain in April. Many market participants realized the U.S. Fed may be behind the curve and have started allocating capital to commodities in 2022. Agriculture and energy continued to outperform last month, while metals and livestock underperformed. Among…

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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 12, 2021

Capturing the Past, Present, and Future of Commodities with the S&P GSCI

After three decades of helping investors make more informed decisions and providing index-based access to diversification, liquidity, and inflation protection –  what’s next for this index icon?

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Mar 1, 2021

Copper Crashes the Energy Party in February

An inflationary tide lifted almost all commodity boats in February 2021. Most constituents of the S&P GSCI rose while gold, the commodity that market participants often look to for inflation protection, lagged. The S&P GSCI rose 10.6% overall in February, with copper and energy doing most of the heavy lifting. After a strong January, the…

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Dec 1, 2020

Industrial Commodities Benefit from Hopeful COVID-19 Vaccine News

November proved to be a good month for risk assets, including commodities. The headline S&P GSCI rose 12.0%, outperforming the S&P 500®, which gained 10.8%. Promising developments on the COVID-19 vaccine front and the U.S. election outcome rewarded risk assets such as energy and industrial metals, while safe-haven assets like gold lost some luster. The…

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Nov 17, 2020

Where Do You See Yourself in Five Years? China Stocks Up ahead of Their Latest Five-Year Plan

When discussing global economic recoveries, China is usually at the forefront of the conversation. As of Nov. 16, 2020, metal commodities with an industrial focus were the outperformers YTD. China is the world’s top industrial metal destination. Exhibit 1 shows the top 10 performing commodities tracked by S&P DJI. Seven metal commodities made it to…

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Oct 1, 2020

A Second Wave Sinks Commodities in September

The headline S&P GSCI fell 3.6% in September on the back of growing concern regarding the prolonged economic impact of a second wave of the COVID-19 pandemic. Across sectors, both industrial metals and energy contracted, while the agriculture and livestock sectors benefited from cursory signs of the return of demand from China. The S&P GSCI…

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Jul 1, 2020

June Heatwave for Metal and Petroleum Commodities

The S&P GSCI rose 5.09% in June and 10.47% for the second quarter of 2020. The recovery in the second quarter did not fully retrace the dramatic downside from the first quarter, as can be seen in the index’s -36.50% YTD return. Continued recovery in petroleum commodities contributed, but bullish sentiment in industrial metals such…

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