| Commodities were broadly higher in October as macro-economic sentiment recovered for the month, which concluded with an EU summit agreement to require greater bank capital requirements and to increase the size of the region's rescue fund.
Nelson Louie, Global Head of Commodities in Credit Suisse's Asset Management division, said, "The agreement reached by the EU summit temporarily improved investor sentiment which lent support to multiple asset classes, including commodities. While markets are likely to remain volatile as the details of the European deal are released and agreed upon by various members, short-term demand may be stimulated with most commodities trading at lower prices after the recent sell off. However, long-term fundamentals remain constructive for many key commodities." (Press Release) |