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From Komfie Manalo, Opalesque Asia:
Switzerland-based Tiberius Asset Management released its latest Market Commentaries report which said that the commodity indices sputtered along in terms of absolute performance in August. The broadly diversified Dow Jones UBS Index (DJUBS) achieved an absolute return of practically zero (-0.6%), while the Rogers International Commodity Index (RICI: -1.4%) and S&P Goldman Sachs Commodity Index (SPGSCI: -2.4%) fared somewhat worse, since they had given industrial metals, which again proved to be outperformers in August, a smaller weighting than the DJUBS Index.
Tiberius said that last month could also be seen as a month of extremes for the commodity markets. Against the backdrop of thin trading volumes, the performance of individual commodities diverged dramatically. The difference between the top performer (sugar: +31.1%) and the worst performer (natural gas: -16.8%) amounted to 48%. Especially noteworthy was that those commodities already among the relative winners in the first seven months of 2009 (copper, nickel, zinc and silver, as well as soybeans and sugar) also led the pack in August, while the worst underperformers of 2009 (natural gas, wheat, corn, lean hogs) also did very poorly during the month.
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Many commodity markets seem poised to benefit from a cyclical revitalization of demand. Global leading indicators for the ...................... To view our full article Click here
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