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Saturday, December 23, 2017 6:10:43 PM
https://data.bloomberglp.com/promo/sites/12/107515_BCOM-Dec2017-Tables-And-Charts.pdf
Disappointing 2017 Leaves Room for
Broad Commodity Gains in 2018
Performance: December -0.4%, YTD -1.7, Spot 3.8%.
(Returns are total return (TR) unless noted, to December 21)
(Bloomberg Intelligence) -- If the dollar weakens further,
metals should continue to lead broad-commodity gains in
2018 after a disappointing 2017. The greenback's decline
despite the accelerated rate-hike cycle is an indication of
a longer-term peak. Demand vs. supply ratios are quite
favorable for all three major commodity sectors. Energy's
likelihood of continued range-trading higher is subject to
further production cuts, though a dependence on supply
reductions for price appreciation is fundamentally bearish.
Relying on a continuation of historically above-average
production and favorable weather trends is risky business
in agriculture -- the sector that's most likely to exceed
expectations. Historically depressed and compressed
grain prices elevate the risk of a sharp rally.
DISCLAIMER: MY POSTS ARE STRICTLY MY OPINION, AND ANY OPINION
PROVIDED DOES NOT CONSTITUTE A BUY,SELL, OR HOLD RECOMMENDATION OR DECISION.
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