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Thu, Oct. 16, 2:56 PM
- The iShares Commodities Select Strategy ETF (NASDAQ:COMT) currently holds 21 futures contracts and stock from 180 commodity producers, and the fund manager will use a futures "roll process" to minimize the negative impacts of contango, and will seek to benefit from backwardation, where possible.
- The fee of 0.48% per year compares favorably with many actively managed ETFs.
- Broad commodity ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSP, GSC, RGRC, DJCI, LSC, DEE, FTGC, UCI, CMD, DYY, BCM, DDP, UCD, CMDT, DPU, SBV, CSCB, CSCR
Mon, Oct. 6, 3:49 PM
- Going higher without fail on nearly a daily basis since Memorial Day, the dollar (UUP -1.2%) is selling off hard today, likely helping to light up the commodity sector (DBC +1.4%) bright green.
- Among individual currencies, the euro (FXE +1.2%), loonie (FXC +1.2%), aussie (FXA +1.3%), swissie (FXF +0.7%), pound (FXB +0.5%), and yen (FXY +1.1%) are all posting sizable gains.
- Dollar ETFs: UUP, UDN, FORX, UUPT, UDNT, USDU
- Broad commodity ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSC, GSP, RGRC, DJCI, LSC, DEE, FTGC, UCI, DYY, CMD, BCM, DDP, UCD, CMDT, DPU, SBV, CSCB, CSCR
Tue, Sep. 30, 12:07 PM
- The early decline in WTI crude oil has accelerated sharply over the past few minutes, and it's now off 3.5% to $91.25 per barrel, about inline with the lowest pricing seen this year. USO -2.9%
- Moving alongside is heating oil (UHN -1.1%) and gasoline (UGA -3.1%).
- Broad energy ETFs: DBE, RJN, JJE, ONG, RGRE, UBN
- Checking other commodities: Silver (NYSEARCA:SLV) is down 3.4%, Copper (NYSEARCA:JJC) is lower by 1.3%, and Wheat (NYSEARCA:WEAT) is off 1.8%.
- Broad commodity ETFs: DBC, DJP, GSG, RJI, GCC, USCI, GSC, GSP, RGRC, DJCI, LSC, FTGC, DEE, UCI, DYY, CMD, BCM, DDP, UCD, CMDT, SBV, DPU, CSCB, CSCR
Tue, Apr. 29, 7:15 PM
- U.S. government forecasters predict a more than 65% chance for an El Niño weather phenomenon by the end of the year, a development that threatens to drive up prices for food and other staples.
- El Niño has a reputation for triggering sharp run-ups for prices in markets as diverse as nickel, coffee and soybeans, and commodities investors, traders and analysts are bracing for impact at a time when global supplies of many raw materials already are stretched.
- Global food prices - which at the start of 2014 were expected to be largely flat this year - could easily climb 15% to record highs in as a little as three months after an El Niño occurs, says World Bank economist James Baffes.
- But Société Générale analysts say it is miners, not farmers, who have the most to worry about; since 1991, nickel prices rose the most (13.9%) during El Niño years among commodities the bank tracks.
- ETFs: DBA, CORN, DBC, JO, JJC, RJA, JJG, WEAT, SOYB, DJP, SGG, DBB, COW, NIB, GSG, RJI, CAFE, BAL, GCC, DAG, USCI, JJA, GRU, CHOC, CANE, JJN, RGRA, AGA, JJT, RGRC, CPER, AGF, GSP, BOM, RJZ, JJU, GSC, LSC, FUD, DJCI, USAG, BOS, SGAR, JJM, DEE, BDD, UCI, LD, WEET, UAG, DYY, DIRT, BCM, CMD, DDP, NINI, JJS, CTNN, TAGS, UBC, CUPM, FOIL, UCD, ADZ, RGRI, LEDD, UBM, CMDT, BDG, SBV, USMI, DPU, LSTK, CSCB, GRWN, HEVY, CSCR
Fri, Mar. 14, 3:48 PM
- US Steel (X -1.3%) is downgraded to Underperform from Neutral at Credit Suisse due to relative valuation and expected lower iron ore pricing in H2 2014.
- Equity prices, and particularly US Steel, seem to be overlooking recent commodity price weakness as a short-term destock related phenomenon - perhaps not surprising given the 2012 collapse and rebound in iron ore prices - but Credit Suisse believes that, unlike 2012, structural changes to the global ferrous supply/demand balance through mid-year will see commodity prices settle at a lower level in H2 than they did after the 2012 destock shock.
- Also, the firm thinks US Steel's relative outperformance vs. international peers including ArcelorMittal (AT) likely is due to EM/DM exposure trade, but the gap will close at some point.
- ETFs: DBC, DJP, GSG, RJI, GCC, USCI, CFD, CTF, RGRC, GSP, GSC, LSC, DEE, DJCI, UCI, CMD, DDP, DYY, BCM, UCD, FTGC, CMDT, SBV, DPU, CSCB, CSCR
Tue, Feb. 4, 10:06 AM
- 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, UCI, UCD, CMDT, SBV, DPU, FTGC, CSCB, CSCR
Dec. 31, 2013, 1:21 PM
- Nearly 8 years after the launch of the PowerShares DB Commodity Tracking Fund (DBC), the firm filed paperwork for an actively managed version of the fund, offering exposure to a diversified set of commodities through futures contracts.
- By investing in 14 heavily traded sectors of the commodity market, this fund hopes to hedge against individual sector falls, creating consistent return for investors.
- DBC is down about 7.5% this year as equities stole the spotlight in 2013, but with $5.5 billion in assets under management it has considerable stability and did exceedingly well in years where equities fell.
- Other broad commodity ETFs: DJP, GSG, RJI, GCC, USCI, CFD, CTF, RGRC, GSC, LSC, GSP, DEE, DDP, DYY, DJCI, CMD, BCM, UCI, UCD, SBV, CMDT, DPU, FTGC, CSCR, CSCB
Dec. 27, 2013, 4:29 AM
- The WSJ shines a light onto "shadow warehouses," a hidden system of facilities that store tens of millions of tons of aluminum, copper, nickel and zinc across the globe for banks, hedge funds and commodity merchants.
- The warehouses operate outside the London Metal Exchange's system, are unregulated, and don't provide details of their holdings. As a result, it's unclear how much metal is held in the shadow system. This lack of visibility could cause major price swings.
- The WSJ article follows allegations that warehousing companies have artificially boosted the price of metals, particularly aluminum.
- Companies that operate metals warehouses include Goldman Sachs (GS), Glencore Xstrata (GLCNF) and JPMorgan (JPM), although the latter is looking to sell its commodities unit.
- Relevant tickers include VALE, AA, AWC, KALU, MNSF, CENX, NOR, BHP, RIO, ACH.
- ETFs: DBC, JJC, DBB, DJP, GSG, RJI, GCC, USCI, CFD, JJN, JJT, BOM, RGRC, CPER, CTF, RJZ, GSC, LSC, GSP, JJU, DEE, BDD, BOS, JJM, DYY, DDP, DJCI, LD, CMD, BCM, CUPM, UCI, RGRI, UCD, UBM, FOIL, BDG, LEDD, CMDT, SBV, USMI, DPU, NINI, FTGC, CSCB, CSCR, HEVY
BCM vs. ETF Alternatives
The iPath® Pure Beta Broad Commodity ETN is linked to the Barclays Capital Commodity Index Pure Beta TR (the "Index") and reflects the returns that are potentially available through an unleveraged investment in the futures contracts on physical commodities comprising the Index, while mitigating the effects of certain distortions in the commodity markets on such returns through the application of the Barclays Capital Pure Beta Series 2 Methodology.
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