| From Hardassetsinvestor.com: Oil-tracking exchange-traded products are prime examples. The returns obtained from purchasing inverse oil products have been largely influenced by recent shifts in the crude oil price structure from contango to backwardation and back.
Contango markets are unloved by holders of long index funds and notes because of the negative yield – negative $5 in this case – that must be absorbed when a roll from an expiring nearby contract to a forward month is dictated..... Full Article: Source
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