Tag Archives: DJCI

Commodities Performance Highlights – March 2019

It has been a noteworthy start to 2019 for commodities. The S&P GSCI was up 1.6% in March and up 15.0% YTD. The performance of the Dow Jones Commodity Index (DJCI) was more modest in March, up 0.1%, and it was up 7.5% YTD, reflecting its lower energy weighting. Petroleum prices were the standout driver Read more […]

Commodities Performance Highlights – February 2019

February saw commodities continue their impressive start to 2019. The S&P GSCI was up 3.8% in February and up 13.1% YTD, while the Dow Jones Commodity Index (DJCI) was up 1.9% in February and up 7.4% YTD. Solid performance in petroleum prices continued to support both the S&P GSCI and DJCI, while lagging grain prices Read more […]

Commodities Performance Highlights – January 2019

Commodities enjoyed an impressive start to 2019. The S&P GSCI was up 9.0% in January, while the Dow Jones Commodity Index (DJCI) was up 5.4%. The strong performance was largely driven by a notable recovery in petroleum prices, but industrial metals also enjoyed a revival. Oil prices recovered strongly over the first full trading week Read more […]

Energy Stays on Top in April

The Dow Jones Commodity Index (DJCI) was up 2.9% for April 2018 and up 3.7% YTD, while the S&P GSCI was up 5.0% for the month and 7.3% YTD. Precious metals was the worst-performing sector in the indices and energy was the best. Exhibit 1 depicts the month-to-date and YTD performance of the sector indices Read more […]

Commodities Are Like a Box of Chocolates, if You Only Factor in Interest Rates and the U.S. Dollar

The Dow Jones Commodity Index (DJCI) was down 1.9% for the month and up 0.7% YTD, and the S&P GSCI was down 3.3% and flat YTD. Energy was the worst-performing sector, while agriculture was the best. Of the 24 commodities tracked by the indices, 14 were negative in February. Cocoa was the best-performing commodity for Read more […]

Commodities: Winners and Losers of 2017

The Dow Jones Commodity Index (DJCI) was up 3.0% for the month and up 4.4% YTD, and the S&P GSCI was up 4.4% with a YTD return of 5.8%. In December, livestock was the worst-performing sector in the indices, while industrial metals was the best. Of the 24 commodities tracked by the indices, 16 posted 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 […]

Inflation, Rising Rates Can Spark Oil’s Rebound

In anticipation of the Federal Reserve’s policy meeting starting Wednesday that may raise the federal funds target rate, here’s what you need to know about how the decision impacts commodities. Historically rising interest rates are positive for commodities for two main reasons.  One is the return on collateral increases, pushing up the total return. The other reason Read more […]

Commodities Mixed in May Might Pay

No single sector dominated commodity performance in May, which means the supply-side is currently more potent than macro factors like global aggregate demand, the dollar, interest rates or inflation.  Each commodity is being driven by something in its own supply/demand model, mostly unrelated to one another.  That is not just lowering the intra-commodity correlation that can create buying Read more […]

Gold Just Did This for Its First Time Ever in April

Commodities have continued their slump in April with the S&P GSCI Total Return losing 2.1% and Dow Jones Commodity Index (DJCI) Total Return losing 1.7% for year to date performance of -7.1% and -3.6%, respectively.  Only 2 of 5 sectors and 7 of 24 commodities were positive in April.  In the S&P GSCI, livestock gained Read more […]