Commodities Snapshot
30 charts on global commodities
The following is the seventh in a series of themed reports DC publishes regularly for paid subscribers.
The goal of these reports is to hone in on and provide a "snapshot" of a specific area of the economy/markets.
Previous Snapshots:
1. Performance by year. After outpacing all other asset classes in the previous 2 years, in 2023 commodities went from first to worst, where they have remained.
2. Commodities vs. 52-week highs. Most commodities are down 20% or more from their 52-week highs.
3. Secular bull. The "commodity secular bull market in the 2020s (11% annualized returns) [is] just getting started as debt, deficits, demographics, reverse-globalization, AI & net zero policies [are] all inflationary."
4. Performance. With a larger weighting towards energy commodities, the GSCI has lagged behind the LME (base metals) and CRB (broad commodities) indices over the past year…
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