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Tag Archives: S&P GSCI

Nov 4, 2022

Petroleum Helped the S&P GSCI Gain 6.7% in October

Commodities, represented by the broad-based S&P GSCI, rose 6.7% in October on the back of strength in the petroleum complex. During the month, the director of the International Energy Agency said the world is in the middle of “the first truly global energy crisis.” All petroleum constituents rose by double-digit percentage points. Livestock also rose,…

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Oct 12, 2022

Spotlight on Commodities: Inflation and Innovation

What could the convergence of inflation and interest rate tightening mean for commodities? CME Group’s Blu Putnam takes a fundamental look at global commodity markets with S&P DJI’s Jim Wiederhold and Kelsey Stokes.

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Oct 4, 2022

U.S. Dollar Strength Catches Up with Commodities

U.S. dollar strength caught up with commodities in September, with the benchmark S&P GSCI falling 7.8%. Almost all physical commodities are priced in USD, and a stronger USD has historically correlated to weaker commodity demand and lower commodity prices. But the S&P GSCI is holding onto a 21.8% YTD gain despite the USD strength, energy…

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Sep 1, 2022

Commodities Take a Break over the Northern Hemisphere Summer

The S&P GSCI fell 2.7% in August; renewed strength in agricultural commodities and the continued rally in natural gas were not sufficient to overcome a late-month decline in oil prices. After eight months, the benchmark commodities index is 32% higher YTD, defying higher interest rates and growing fears of a prolonged global economic slowdown. The…

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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 19, 2022

Commodities: Inflation, Interest Rates and the U.S. Dollar

After last week’s highest inflation print in over four decades, the U.S. dollar (USD) rose to its strongest level in 20 years, as measured against a broad basket of currencies. The euro also hit parity with the USD for the first time since 2002 as a consequence of Europe’s front-line exposure to the Russia-Ukraine conflict…

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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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Jun 1, 2022

Food and Energy Inflation Concerns Drive Commodities Higher in May

Record inflation prints, export embargos and import bans helped the S&P GSCI, the broad commodities benchmark, to post another monthly gain in May, ending the month up 5.1% and bringing its YTD performance to 47.0%. The ongoing disruptions to the flow of energy and agricultural commodities out of Ukraine and Russia pushed energy and grain…

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May 24, 2022

Commodities for Breakfast

Except for intermittent fasting groups or keto dieters who tend to skip it, breakfast is considered by many to be the most important meal of the day. Now, there is a reliable and publicly available benchmark for the performance of the most liquid commodities typically consumed at breakfast. The S&P GSCI Dynamic Roll Breakfast (OJ…

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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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