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Commodity ETFs see cyclical asset rotation

Posted on 05 March 2013

An inconclusive Italian election result and the start of an US$1.2tn program of spending cuts in the US weren’t enough to stop investors rotating into more cyclical assets last week. A stronger US Dollar saw ETP investors continue to shun gold, with February 2013 recording the largest outflows since January 2011.
Copper and Brent crude oil were key beneficiaries of improving, but still fragile, risk appetite. Strength in the US housing market, where new home sales surged to a 4-1/2-year high, buoyant consumer confidence, rising manufacturing activity, and encouraging words from the Federal Reserve’s Chairman about the likely length of monetary easing kept the appeal of cyclical commodities………………………………………..Full Article: Source


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