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2014 commodity rally is cold-related

  • After losing 10% in 2013 while the MSCI World Index of stocks gained 24%, the Dow Jones-UBS Commodity Index made up some ground in January, eking out a small advance while the MSCI index slid 3.7%.
  • But as rallies go, it was a pretty lame one. The DJ-UBS index's biggest weighting is for natural gas at nearly 14.5%, and gas futures surged 18% amid the coldest January in memory. Spring will come soon though, and then what?
  • Second in the index weighting is gold which gained 3% in January - not the greatest bounce considering a 29% dive in 2013.
  • Commodities tied more closely to global economic activity - oil and industrial metals - make up 42% of the sector's weighting and they were pretty much uniformly in the red.
  • Broad commodity ETFs: DBC, DJP, GSG, RJI, GCC, USCI, CFD, CTF, RGRC, GSC, LSC, GSP, DEE, DJCI, DYY, DDP, BCM, CMD-OLD, UCI, UCD, CMDT, SBV, DPU, FTGC, CSCB, CSCR

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CFD--
Nuveen Diversified Commodity Fund
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