| Throughout the fall, as Europe teetered, America's election created political uncertainty, and global economic growth slowed, the entire commodities complex caught a cold. The DB Commodities Tracking Fund lost nearly 10% as crude oil, industrial metals, food stuffs, and precious metals all moved lower in unison.
Some of this had to do with a mark down in growth expectations and a decline in inflation expectations. A strong but short-lived pop in the U.S. dollar contributed as well. But this is all reversing now as growth reaccelerates (despite the unresolved "fiscal cliff" here at home) and the dollar weakens -- setting the stage for what appears to be the start of a strong new uptrend...............................................Full Article: Source |