Commodities: Focus on Metals

Broad commodity indices and strategies usually contain exposures to three main sectors:  energy (crude oil, natural gas, and refined products), agriculture (grains, livestock, and softs), and metals (industrial and precious).  Of these, the energy sector typically receives an inordinate amount […]

Commodities “Trump” the U.S. Dollar

Since November 7th, the day before the historic presidential elections, commodities have rallied approximately 5%(1). During that same period the U.S. Dollar has increased approximately 6%(2)! While this may puzzle some investors, it is not as unusual as commonly thought. […]

In the Aftermath of Brexit

We believe that the positive turn in commodities this year could be the start of a multi-year reversion to the mean. The rally this year from the January/February lows has been very broad and has similar characteristics to rallies from […]