Commodity prices except for oil retreated during May 2022 owing to the concern over an impending global recession driven by the hawkish Federal Reserve and geopolitical uncertainty. The Eurekahedge CTA/Managed Futures Hedge Fund Index was down -0.20% in May (+8% YTD), snapping its five-month winning streak.

Similarly, the HFRI Macro: Systematic Diversified Index is