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The last contrarian play? Investors look to commodities as oil and gold rally

Posted on 10 September 2013 by VRS  |  Email |Print

As concerns over the Syria crisis persist, oil and gold prices have risen, prompting investors to look at commodities as “the only contrarian play left in the market”. WTI Crude oil is currently trading at $108.5 per barrel and Brent has shot up to $115.6, while gold topped the $1,400 mark last week to enter a new bull market.
The Thomson Reuters/Jefferies CRB Commodity index has climbed more than 6% from its June trough, up from 275.6 on 28 June to 292.7 on 3 September………………………………………..Full Article: Source

The best indicator of China’s commodity trade is on an insane surge

Posted on 10 September 2013 by VRS  |  Email |Print

The once obscure Baltic Dry Shipping Index came to prominence at the start of the Chinese-led commodity supercycle around a decade ago. The London-based Baltic Exchange tracks the cost of moving commodities along more than 50 routes around the world. With China’s emergence as the dominant trading economy in the world the index became one of the go-to barometers.
China now controls the global trade in just about every commodity including iron ore (representing over 60% of the seaborne trade), copper (42%), coal (47%), nickel (36%), lead (44%) and zinc (41%) and the death of the supercycle now seems to have been exaggerated………………………………………..Full Article: Source

Brazil’s central bank commodities index up 3.77pct in August

Posted on 06 September 2013 by VRS  |  Email |Print

Brazilian central bank BCB’s commodities price index IC-BR increased 3.77% in August, month-on-month, according to the bank’s website.
In August, the highest Increase was seen in metals (aluminum, iron ore, copper, tin, zinc, lead and nickel), at 9.70%, Followed by energy commodities (oil, natural gas and coal), up 21.4%. Agricultural commodities (beef and pork, cotton, soya oil, wheat, sugar, maize, coffee and rice) were up 2:38%. (Translated)……………………………………….Full Article: Source

Commodities lead gains as emerging markets drop

Posted on 04 September 2013 by VRS  |  Email |Print

Commodities beat bonds, stocks and the dollar for a third month, the longest winning streak in two years, as the prospect of military strikes in Syria boosted oil and gold. Emerging markets declined as currencies plunged from Brazil to Turkey to India.
The Standard & Poor’s GSCI Total Return Index of 24 raw materials rose 3.4 percent in August as U.S. crude reached a two-year high and gold rallied close to a bull market………………………………………..Full Article: Source

Scotiabank Commodity Price Index rallies in July

Posted on 23 August 2013 by VRS  |  Email |Print

Scotiabank’s Commodity Price Index jumped by 4.1% month-over-month (m/m) in July. Despite considerable month-to-month volatility, the All Items Index has edged up by 1.2% year-to-date (YTD) over the previous seven months and is currently 6.3% above a year earlier.
“While it is too early to say that commodity prices have bottomed, the correction since April 2011 could be largely over later this year,” said Patricia Mohr, Scotiabank’s Vice President of Economics and Commodity Market Specialist. “The downturn since the Spring of 2011 has been linked to an austerity-led recession in the southern euro zone, a sub-par U.S. economic recovery and new mine supply coming on stream in a lacklustre global economy. The euro zone’s real GDP rose by 1.1% annualized in 2013:Q2, ending six consecutive quarters of contraction, and signs point to a moderate pick-up in the United States.” (Press Release)

Managed futures is answer to commodity/stock index correlation dilemma

Posted on 23 August 2013 by VRS  |  Email |Print

Jodie M. Gunzberg, vice president at S&P Dow Jones Indices, wrote an interesting piece in the S&P Dow Jones Indices blog, Indexology. The blog is titled “Fear Gauge Spikes: Let’s Play Hot Potato” and in it Gunzberg tries to answer a number of questions, but the basic question is: why have commodities reacted differently to spikes in the Chicago Board Options Volatility Index (VIX), or fear gauge, as Gunzberg refers to it, since the credit crisis of 2008 than they did to spikes in the VIX pre-2008.
The reference to the VIX itself is a bit of subterfuge in my opinion because basically what she is describing though avoiding saying explicitly is that commodities markets in general and the S&P GSCI in particular has become increasingly correlated to the S&P 500 since 2008……………………………………….Full Article: Source

Behind the blowout in commodities

Posted on 22 August 2013 by VRS  |  Email |Print

The S&P 500 Index (SPX) has performed well this year and is up over 19% on the year as of July 31st. The Federal Reserves accommodative stance on monetary policy may be one of the reasons for this action.
I assume this to be true due to the sharp but short correction and rise in interest rates we had in June. The markets came right back and hit all time highs in July as the Fed verbally backed off from comments about tapering bond purchases………………………………………..Full Article: Source

Why August’s rare earths price index shot up

Posted on 09 August 2013 by VRS  |  Email |Print

The monthly Rare Earths MMI took the biggest jump of any of the index readings, moving from a paltry 29 in July to 37 in August, on the back of big upward price movements for all 14 metals and oxides that comprise rare earth metals index.
Dudley Kingsnorth, a noted rare earth metals analyst, attributes the improved rare earth price levels to several factors including: rising demand for automation technology (and the rare earth metals that support it, such as: neodymium, dysprosium, europium and cerium), as well as China’s stop to new mining exploration within China and a curb on mining licenses………………………………………..Full Article: Source

Is it time to buy commodities?

Posted on 05 August 2013 by VRS  |  Email |Print

Commodities investors are missing out on the party. Since its recent peak in September 2012, the Dow Jones-UBS Commodity Index, which includes 20 products such as natural gas, gold and copper, has fallen about 14%.
During the same period, the S&P 500 stock index has taken off, returning close to 20% including dividends. And even amid all the talk of a bond-market crash, a broad-based bond-market exchange-traded fund such as iShares Core Total U.S. Bond Market has lost only a few percent, while exchange-traded funds that own riskier bonds, like high-yield ones, have in some cases made money………………………………………..Full Article: Source

NZ commodity prices rise in July: ANZ survey

Posted on 05 August 2013 by VRS  |  Email |Print

Prices for New Zealand’s main commodities rose in July, the first lift in three months, driven by gains in wool and most dairy products, while a fall in the local currency lifted returns, the ANZ Bank’s commodity price index showed on Monday.
The index rose 0.6 per cent from June, taking the annual rise to 25.7 per cent. The index is 5 per cent below a record high touched in April. Prices for most dairy products rose, along with wool, logs, and animal skins, which offset a dip in cheese, aluminium, and some fruit prices………………………………………..Full Article: Source

Scotiabank’s Commodity Price Index drops back in June

Posted on 31 July 2013 by VRS  |  Email |Print

After rallying in May, Scotiabank’s Commodity Price Index fell by 4.1% month-over-month (m/m) in June - the sharpest decline since late 2012. “The Index will be underpinned in July by a return to stronger oil prices in Western Canada and the beginning of another upswing in lumber and oriented strandboard (OSB) prices, after a sharp, seasonal inventory correction,” said Patricia Mohr, Scotiabank’s Vice President of Economics and Commodity Market Specialist.
“The All Items Index remains 1.7% above a year earlier, with Oil & Gas up +17.8%, Forest Products +1.5% and Agriculture +0.1% just offsetting a -13.6% decline in Metals & Minerals.” (Press Release)

Continuous Commodity Index points to rally in gold & silver

Posted on 16 July 2013 by VRS  |  Email |Print

During the recent weeks we have seen commodities especially precious metals continue to drop in value. Market participant sentiment has become more bearish on commodities and couple that with a rising dollar it’s no wonder why we continue to see commodities as a whole fall in value.
Money has been flowing out of bonds at record levels this summer telling us most of market participants are feeling bullish on the stock market. This shift in sentiment of the masses are typical as they move their money from the risk on safer assets (bonds & commodities) and rotate into risk-on assets like stocks………………………………………..Full Article: Source

ETPs based on NASDAQ OMX commodity indexes are introduced

Posted on 12 July 2013 by VRS  |  Email |Print

The NASDAQ OMX Group, Inc. announced exchange-traded product (ETP) provider BOOST ETP will launch nine new exchange-traded products (ETPs) in the United Kingdom (UK) that are based on indexes in the NASDAQ Commodity Index FamilySM. They are the second set of BOOST ETP products linked to the NASDAQ Commodity Index Family and the total number of BOOST’s ETPs on this Family increases to 25.
“The introduction of these commodity ETPs reaffirms the success of our index construction and our rules-based, objective and transparent index methodology,” said John Jacobs, NASDAQ OMX EVP and Head of NASDAQ OMX Global Indexes. “BOOST ETP has again succeeded in leveraging our indexes to quickly and efficiently develop innovative products for a wide range of investors.”……………………………………….Full Article: Source

Commodities: Too early to become positive, says Credit Suisse’s Merath

Posted on 05 July 2013 by VRS  |  Email |Print

Tobias Merath, head of Commodity and Alternative Investments Research at Credit Suisse, says market conditions for commodities remain challenging.In late June, prices sold-off following a period of stabilization.
The broad-based commodity indices are all down year-to-date. We think a rebound is possible in some markets but would not expect a broad move higher. Instead, leading economic indicators suggest that investors should remain cautious for now. In order to assess the outlook for commodity markets, we mainly look at three factors: cycle, valuation and technical analysis. On the cyclical side, there is currently not much impetus………………………………………..Full Article: Source

Global Food Security Index monitors impact of world agriculture

Posted on 04 July 2013 by VRS  |  Email |Print

Findings from the annual Global Food Security Index were issued Tuesday by the Economist Intelligence Unit (EIU) that shows food security has improved in some developing nations. The average 2013 Global Food Index Score held flat at 53.5, compared to the 53.6 measured in 2012.
The Index, a first-of-its-kind ranking tool to comprehensively measure food security and monitor the ongoing impact of agriculture investments, collaborations and policies around the world, is commissioned by DuPont………………………………………..Full Article: Source

NZ commodity prices fall 3.7pct in June, led by milk powder

Posted on 03 July 2013 by VRS  |  Email |Print

New Zealand commodity prices fell for a second month in June, led by dairy products and beef, though the slide in the kiwi meant prices actually rose in the local currency. The ANZ Commodity Price Index fell 3.7% last month, following a 1.6% decline in May. Whole milk powder declined 9% and skim milk powder fell 8%.
The Thomson Reuters/Jefferies CRB Commodity Index, the world’s leading benchmark of commodity prices, fell 1.5% last month and is now sitting near its lowest levels since June last year. Weaker manufacturing activity in China has weighed on prices of raw materials and prices of dairy products have fallen in three of the past four GlobalDairyTrade auctions……………………………….Full Article: Source

Marc Faber: More S&P downside, commodities ‘horrible’…except gold

Posted on 24 June 2013 by VRS  |  Email |Print

With the S&P 500 SPX 0.27% down 2.4% after the Fed laid it on the line, it shouldn’t come as too much of a surprise to see the bears out there growling away. Noted contrarian Marc Faber told CNBC on Thursday that he sees further downside for the S&P.
“…not because of Fed’s statements because, like always, they hedged their bets in the sense that this tapering off would not neccesarily stop. Mr Bernanke said if the economy does not improve along the lines that we expect we will provide additional support. I think the markets are worried about something else,” says the publisher of the GloomBoomDoom report………………………………………..Full Article: Source

Commodities from gold to oil slump on Fed outlook, China crunch

Posted on 21 June 2013 by VRS  |  Email |Print

Commodities tumbled as everything from gold to crude oil and copper dropped on concern that the Federal Reserve may phase out stimulus and as China’s cash crunch worsened.
The Standard & Poor’s GSCI Index lost 3 percent to 616.46, capping the biggest drop since December 2011. All 24 raw materials tracked by the gauge declined. Gold futures slid below $1,300 an ounce to the lowest in more than 2 1/2 years, and silver plunged as much as 9.7 percent, while nickel touched the lowest price since 2009………………………………………..Full Article: Source

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Commodity prices fall in May: RBA

Posted on 04 June 2013 by VRS  |  Email |Print

Australia’s export commodity prices fell in May, the second monthly fall, following a run of three increases. The Reserve Bank of Australia’s index of commodity prices fell by 2.6 per cent in the month in foreign currency terms.
Commodity prices peaked in July 2011 and are now down by 20.1 per cent from that high, but still more than 200 per cent higher than 10 years ago before the commodities boom started to lift prices. The RBA said the main contributors to the fall in May were iron ore, gold and coal………………………………………..Full Article: Source

Copper and S&P part ways – Which has it wrong?

Posted on 21 May 2013 by VRS  |  Email |Print

The big divergence over the past few months in the direction of the S&P 500 and copper, which historically trade in tandem, has one strategist questioning which market is getting it wrong.
David McAlvany, CEO, McAlvany Financial Group said it doesn’t make sense that S&P 500 should motor higher, while the sell-off in copper continues………………………………..Full Article: Source

Scotiabank’s Commodity Price Index posts mild decline in April

Posted on 14 May 2013 by VRS  |  Email |Print

The decline in Scotiabank’s Commodity Price Index in April was quite mild - down 0.2% month-over-month (m/m) - despite a sharp mid-month selloff in gold and talk of an end to the ‘Super-Cycle’ in commodity prices. “Financial market concern over the outlook for commodity markets was overblown mid-month,” said Patricia Mohr, Scotiabank’s Vice President of Economics and Commodity Market Specialist.
“While China’s Gross Domestic Product (GDP) slowed to 7.7% year-over-year (y/y) in 2013:Q1, from 7.9% in 2012:Q4, actual demand for raw materials was robust in China. The double-digit growth of China’s passenger car market, up 20% in Q1, reinforces its importance as a driver of growth in worldwide auto demand and related commodities such as copper.”……………………………………….Full Article: Source

Don’t write off the commodities super-cycle just yet

Posted on 30 April 2013 by VRS  |  Email |Print

Here’s something unexpected: commodity prices have actually been rising, at least according to Bank of Nova Scotia’s monthly commodity price index.The index rose in March by 1.6 per cent over February and inched up slightly in the first quarter as a whole.“Firmer overall prices in March – likely a surprise to financial markets – were led by the oil and gas index (+6.8 per cent month over month),” Scotiabank said.
In the plus column were Western Canadian heavy oil, natural gas export prices to the U.S., and propane prices, and for non-energy commodities, forest and agricultural products………………………………………..Full Article: Source

Scotiabank’s Commodity Price Index rallies in March

Posted on 30 April 2013 by VRS  |  Email |Print

Scotiabank’s Commodity Price Index rose by 1.6% month over month (m/m) in March, after edging down in February, and inched up slightly in the first quarter of 2013 from the fourth-quarter average. However commodity markets remain skittish, with a sharp selloff in gold in mid-April and softer base metal prices, after the release of China’s slower-than-expected first-quarter GDP advance, 7.7% year over year (yr/yr), down from 7.9% in 2012:Q4.
“Firmer overall prices in March were likely a surprise to financial markets,” said Patricia Mohr, Scotiabank’s Vice President of Economics and Commodity Market Specialist. “The advance was led by the Oil and Gas Index (+6.8% m/m), with gains in Western Canadian Select (WCS) heavy oil, natural gas export prices from Canada to the U.S. and liquefied petroleum gas (LPG) prices in Edmonton and Sarnia.” (Press Release)

Commodity prices move higher in March, weakness ahead for industrial metals: Scotiabank

Posted on 30 April 2013 by VRS  |  Email |Print

Commodity prices nudged up slightly in March just ahead of the steep sell-off in gold mid-April. Scotiabank’s Commodity Price Index rose 1.6 per cent month over month. Traders are bracing for more uncertainty following a reality check in China’s economic growth, which rose less than expected at 7.7 per cent in the first quarter of 2013.
Oil and gas was the strongest sub-category as prices rose 6.8 per cent from February. Natural gas reached its highest level since July 2011 as the winter dragged on in North America………………………………………..Full Article: Source

China PMI rebound no guarantee of higher commodity imports: Clyde Russell

Posted on 03 April 2013 by VRS  |  Email |Print

It would be logical to assume that the rise in China’s official Purchasing Managers’ Index to an 11-month high would signal stronger commodity demand, but this isn’t guaranteed.
What the increase in the PMI to 50.9 in March from February’s 50.1 does show is that the modest expansion in China’s economy remains on track. At these levels gross domestic product growth should easily achieve the government’s 7.5 percent target for 2013, and is more likely to be closer to 8 percent………………………………………..Full Article: Source

Monthly ANZ Commodity Price Index rises 7.4pct in March

Posted on 02 April 2013 by VRS  |  Email |Print

The ANZ Commodity Price Index rose 7.4% in March, led by whole milk powder, pelt, butter and skim milk powder prices, in its third strongest monthly rise ever. ANZ economist Steve Edwards said the index, at 296.1, was now just 6% below its all time high, which was recorded in April 2011.
The only two months when the index has risen by more are November 2009 and April 1986 when it posted 11.13% and 8.84% increases, respectively. “Underpinning the latest lift was a strong jump in dairy and pelt prices,” says Edwards………………………………………..Full Article: Source

The CRB Index hints commodities to improve

Posted on 13 March 2013 by VRS  |  Email |Print

The CRB Index, an excellent gauge of commodity prices per se, ended a few ticks in the red, nearly unchanged. There was some weakness with the pork complex, feeder cattle and a few soft or tropical markets but otherwise, the session was subdued with the Index appearing dead in the water. But keep in mind that Thursday and Friday of last week, the Index posted impressive, ‘back to back’ gains making yesterday, a day of rest.
Despite the CRB doing little, there were several interesting developments yesterday that I found compelling. For starters, there was front month March oat futures that that hit a high of $4.283/4 a bushel and settled at $4.23, up 183/4 cents. From the low last Thursday of $3.90 to yesterdays high the market has rallied nearly 10%, visiting a level not seen since June, 2011………………………………………..Full Article: Source

NZ commodity prices rise in Feb: ANZ Bank

Posted on 04 March 2013 by VRS  |  Email |Print

Prices for New Zealand’s main commodities rose for the seventh consecutive month in February, bolstered by some dairy and forestry products and meat, a survey showed on Monday. The ANZ Bank’s commodity price index gained 1 per cent on the previous month, following the rise after a 0.3 per cent rise in January.
The series has gained 9 per cent since its low point last July but is 13 per cent below its record high in April 2011. Ten of the 17 commodity groups rose in price, two were weaker, and five flat………………………………………..Full Article: Source

Scotiabank commodity price index rebounds in January after year-end decline

Posted on 28 February 2013 by VRS  |  Email |Print

Commodity prices started the year on a stronger note, rising 3.8 per cent month-over-month in January after losing significant ground late in 2012, according to the Scotiabank commodity price index.
“Riskier assets such as commodities and equities were buoyed in January by the 2012 fourth-quarter improvement in China’s economy,” the bank’s commodity market specialist Patricia Mohr said in remarks accompanying the release of the index Wednesday. “However, market conditions remain skittish, with some industrial commodity prices and equity markets easing back again in late February.”……………………………………….Full Article: Source

Bovespa-Index futures fall as commodities slide on euro concern

Posted on 27 February 2013 by VRS  |  Email |Print

Bovespa stock-index futures fell as commodities declined on concern Italy’s elections may reignite Europe’s debt crisis, curbing global growth and demand for Brazil’s exports.
State-controlled oil company Petroleo Brasileiro SA (PETR4) retreated in Frankfurt trading as oil reached a seven-week low in New York. Water utility Cia. de Saneamento de Minas Gerais may be active after reporting profit that beat estimates………………………………………..Full Article: Source

Downturn in China’s investment cycle could push down global prices of some commodities

Posted on 26 February 2013 by VRS  |  Email |Print

A downturn in China’s investment cycle could push down global prices for some commodities, such as iron ore, by up to 12%, according to new study by Standard & Poor’s Ratings Services (S&P).
In a study entitled “The Investment Overhang: If China’s Investments Dip, Commodity Prices May Slip” released on Feb 25, S&P found a strong correlation between movements in China’s investment-to-GDP ratio and prices for commodities such as iron ore and coal………………………………………..Full Article: Source

Bovespa-Index futures fall as commodities drop on growth outlook

Posted on 22 February 2013 by VRS  |  Email |Print

Bovespa stock-index futures fell, signaling the stock gauge may retreat for a seventh day, as commodities declined on concern China’s property curb and contraction in the euro region will sap global growth.
Iron-ore mining company Vale SA (VALE3) slid in Frankfurt trading. Steelmaker Gerdau SA (GGBR4) may be active after reporting profit in the fourth quarter missed analysts’ estimate…………………………………….Full Article: Source

5 reasons the S&P 500 could fall 20pct by the end of 2013

Posted on 22 February 2013 by VRS  |  Email |Print

Yesterday, I watched the stock market fall because some members of the Federal Reserve wanted to end its quantitative easing (QE) program before hitting its target of 6.5% unemployment. The reason some Federal Reserve members want to end QE early was the risks further QE could have on the economy and inflation.
If the Federal Reserve removes or slows down QE, I believe the market could be in for a correction. With the stock market sitting near a five-year high, I believe this would be a prudent time to think about the investment landscape and see what investment options make sense for the possible coming correction…………………………………….Full Article: Source

S&P eyes commodity indices trade in India

Posted on 19 February 2013 by VRS  |  Email |Print

With India’s commodity trading volumes more than doubling through the past three years, many global commodity indices majors are now considering India one of the most promising markets for commodity indices trading.
S&P Dow Jones Indices (S&P DJI) feels the potential for commodities indices trading in the Indian market is immense. “India’s commodity market is growing big. More and more investors are now getting into commodities trading. We are looking at India and the entire Asia as a potential market for S&P indices,” said Daniel Ung, associate director (index research & design group), S&P DJI…………………………………….Full Article: Source

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ICAP, Marex Spectron and Tullett Prebon launch Tankard indices

Posted on 07 February 2013 by VRS  |  Email |Print

Leading interdealer brokers in the European energy markets, ICAP, Marex Spectron, and Tullett Prebon, today launch ‘Tankard,’ a series of trade-backed natural gas indices for UK and European hubs. The Tankard indices will initially cover the four leading traded natural gas hubs in Europe – the UK National Balancing Point ( NBP), Dutch Title Transfer Facility (TTF), German NetConnect Germany (NCG) and GASPOOL.
Each Tankard index is calculated exclusively using transaction prices for contracts for physical delivery at their respective hub, executed via one of the three brokers that comprise Tankard. ICAP, Marex Spectron, and Tullett Prebon provide comprehensive coverage of the OTC natural gas market……………………………………….Full Article: Source

NZ commodities rise for sixth straight month

Posted on 04 February 2013 by VRS  |  Email |Print

New Zealand commodity prices rose for a sixth straight month in January led by increasing pelt prices, though the strength of the kiwi dollar ate into the benefits for local producers.
The ANZ Commodity Price Index rose 0.3% last month to a 10-month high of 272.6. In local currency terms, the index fell 0.5% to 177.2, its second monthly decline. The price of pelts climbed 55 to a 12-month high, followed by a 3% gain in log prices and a 2% increase in skim milk powder prices……………………………………..Full Article: Source

Scotiabank’s commodity price index retreats in December

Posted on 30 January 2013 by VRS  |  Email |Print

The Scotiabank Commodity Price Index declined by 4.6% month-over-month (m/m) in December, reflecting a sharp drop in the Oil and Gas Index (-14.6% m/m).
“Western Canadian Select (WCS) heavy crude oil led the decline, plunging from US$72.47 to a mere US$57.84 per barrel in December,” said Patricia Mohr, Vice President, Economics and Commodity Market Specialist at Scotiabank. “While West Texas Intermediate (WTI) oil prices edged up to US$88.25 last month, the WCS discount off WTI ballooned to US$30.41 and will climb further to US$32.84 in January and US$36.94 in February.” (Press Release)

UBS sticks to commodities index business as it slims down

Posted on 21 January 2013 by VRS  |  Email |Print

UBS plans to grow its commodities index business even as the firm winds down its fixed income unit, retaining what bank executives see as an important product for UBS’s wealth management clients.
Edmund Carroll, UBS’s global head of commodities trading, will be relocating from London to New York, bank executives told Reuters during an interview this week. He will report to Roger Naylor, global head of equity derivatives………………………………………..Full Article: Source

Commodity prices rise in December

Posted on 10 January 2013 by VRS  |  Email |Print

New Zealand commodity prices rose for a fifth straight month in December, led by a surge in pelt prices and gains for aluminium and beef, though a strong New Zealand dollar eroded the benefits to local producers.
The ANZ Commodity Price Index rose 1% in to be 7% up since July last year. The index is still 14% below its April 2011 peak. The NZD Commodity Price Index fell 0.1% “as the lift in the value of the kiwi dollar was greater than the rise in international commodity prices,” ANZ said………………………………………..Full Article: Source

Nikkei-TOCOM Commodity Index to be renamed in February

Posted on 21 December 2012 by VRS  |  Email |Print

The Tokyo Commodity Exchange, Inc. (TOCOM) and Nikkei Inc. announced today a name change of the Nikkei-TOCOM Commodity Index as of February 12, 2013. This change only applies to the Japanese language name. The two companies have been jointly calculating and publishing the index since 2009.
This coincides with TOCOM’s Japanese-language name, which is scheduled to be updated on February 12 with the launch of Agricultural Product and Sugar Market (pending regulatory approval). TOCOM’s corporate name and the names of the indexes in English will remain unchanged………………………………………..Full Article: Source

FTSE launches new commodity index

Posted on 14 December 2012 by VRS  |  Email |Print

Global index company FTSE Group has launched a rules-based, long-short index, the FTSE Dynamic Commodity Index. Announcing the launch of the new product this week, the company said it was derived from Professor John M. Mulvey’s risk management and portfolio allocation approach – Dynamic Portfolio Tactics.
It said the new index would provide investors with transparent and efficient exposure to global commodity markets, via a proprietary regime-shifting approach, which seeks to capture discrete changes in economic data to guide positive or negative commodity weightings………………………………………..Full Article: Source

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Brazil’s IC-Br Commodity Index rises in November on energy

Posted on 06 December 2012 by VRS  |  Email |Print

Brazil’s IC-Br commodities index, published by the central bank to track prices for a basket of basic goods, edged higher in November from the previous month on a spike in energy prices.
The composite IC-Br rose from October to 135.41 points, the Brazilian Central Bank said Wednesday. The index is up 8.9% since the start of 2012 and 8.3% higher than in November 2011. The IC-Br’s subindex for energy commodities such as Brent crude, natural gas and coal rose 2.8% last month, to 101.83 points, its highest level in at least two years………………………………………..Full Article: Source

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RBA commodity prices edge up in November

Posted on 04 December 2012 by VRS  |  Email |Print

Australia’s export commodity prices rose slightly in November but are still well below their mid-2011 peak, Reserve Bank of Australia (RBA) figures show. The RBA’s index of commodity prices in November was 1.7 per cent higher in foreign currency terms compared with October, when it hit a two-year low.
Despite the small bounce in November, the index was still down by 18.3 per cent from its peak in July last year. Even after the downward trend from mid-2011, the index is still up by 191 per cent from where it was in late 2003, before a global economic recovery and China’s rapid industrialisation supercharged demand for minerals………………………………………..Full Article: Source

Scotiabank’s Commodity Price Index edges down in October

Posted on 23 November 2012 by VRS  |  Email |Print

After two months of strong gains, Scotiabank’s Commodity Price Index edged down in October by 0.2% month over month. Risk aversion returned mid-month, alongside another bout of concern over the outlook for global growth. The All Items Index currently stands 14.1% below the near-term peak in April 2011 - just prior to the advent of financial market concern over excessive Eurozone sovereign debt - and has fallen by 5.2% this year.
“Oil and gas prices rose across the board in October, with firmer natural gas and propane prices in Edmonton and Sarnia, as well as slight gains in light and heavy crude oil in Alberta,” said Patricia Mohr, Vice President, Economics and Commodity Market Specialist at Scotiabank………………………………………..Full Article: Source

Banks struggle as commodity index returns slide

Posted on 12 November 2012 by VRS  |  Email |Print

Banks are struggling to devise new commodity index products as once-fat returns fizzle out in a business worth $140 billion, putting pressure on bank commodity businesses already hit by tighter regulations.
Up until this year, the banks had managed to come up with fresh ways of perking up returns for the index products and retain uneasy investors, who still see commodities as a bet against inflation. As a flood of money into the sector has diluted returns, however, now even many of the complex products spiced up with computer algorithms are underperforming, and some investors are questioning their commitments to the sector………………………………………..Full Article: Source

Currency fund index slumps in October

Posted on 12 November 2012 by VRS  |  Email |Print

An index of currency-focused hedge-fund performance declined in October, as investors struggled to keep up with shifting market sentiment in the face of rising political uncertainty.
Parker Global, an investment firm that tracks the performance of funds in which it invests, said its currency-managers index fell 0.73% in October from the previous month. The CMI is nearly flat so far this year, gaining just 0.14% since Jan. 1. Compared with last October, the index is up 4.3%, according to an emailed statement from Parker Global………………………………………..Full Article: Source

Typo by top commodity index sows oil market confusion

Posted on 07 November 2012 by VRS  |  Email |Print

The world’s leading financial index group sowed hours of confusion in global oil markets late on Monday when it accidentally reversed the new crude oil weightings of the top commodity index, the S&P GSCI.
S&P Dow Jones Indices, owned by McGraw Hill unit Standard & Poor’s, said on Tuesday that it had inadvertently mislabeled a table showing how investors should allocate an estimated $80 billion of funds that track the index for 2013. The new weights were listed under a “2012″ heading, while this year’s were listed as new figures for “2013.”……………………………………….Full Article: Source

Top commodity index S&P GSCI hikes WTI weight, cuts Brent for 2013

Posted on 06 November 2012 by VRS  |  Email |Print

The S&P GSCI index, one of two leading commodity indices for investors, will boost the share of U.S. WTI crude oil futures by 6.25 percentage points next year while cutting European benchmark Brent by 4 percentage points, owner S&P Dow Jones Indices said on Monday.
The changes in crude oil weights, the only significant adjustments in this year’s rebalancing of the 24 components, is a reversal of last year’s trends, when many indices added Brent or boosted its share. But production of Brent-type crudes is diminishing, while U.S. oil output is growing swiftly………………………………………..Full Article: Source

RBA commodity price index at 2-year low

Posted on 02 November 2012 by VRS  |  Email |Print

Australia’s export commodity prices fell to a two-year low in October according to Reserve Bank of Australia (RBA) figures. The RBA’s index of commodity prices in October was 3.5 per cent lower in foreign currency terms compared with September, and down by 19.5 per cent from its peak in July last year.
The October level was the lowest for the index since October 2010. The index is now less than one per cent above the high point seen in September 2008, just ahead of the descent of global financial markets into crisis and consequently the slump in commodity prices that bottomed out in May 2009………………………………………..Full Article: Source

Baltic index drops as capesize rates weaken further

Posted on 02 November 2012 by VRS  |  Email |Print

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry commodities, fell on Thursday as capesize rates weakened for the third straight day.
The overall index, which reflects daily freight market prices for capesize, panamax, supramax and handysize dry bulk transport vessels, fell 2.53 percent to 1,000 points. The Baltic’s capesize index fell 2.65 percent to 2,355 points………………………………………..Full Article: Source

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