14.01.2014 - Commodity market increased in December due to positive fundamentals
Commodities were higher in December due to positive fundamentals supporting the energy and industrial metals sectors. Nelson Louie, Global Head of Commodities in Credit Suisse’s Asset Management business, said, “The 2014 global economy looks to be the most orderly in several years, centering on modest yet stable growth. We expect global growth to accelerate gradually in 2014, with most of the pick-up occurring in developed market economies, narrowing the growth gap with the Emerging Markets. We believe this steady uptick in growth may be beneficial to commodities.” Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added, “Amid macroeconomic improvements in the US and abroad, correlations between commodities and traditional asset classes have been decreasing. We expect individual commodities to continue to be increasingly driven by fundamental factors rather than macroeconomic headlines. While broad macroeconomic trends continue to be important, they will likely impact asset classes in different ways. We continue to expect commodities to provide valuable diversification benefits going forward...............................................Full Press Release: Source