Commodity ETF Buyers Rewarded in Record Rally for Invesco Fund
(Bloomberg) -- Exchange-traded fund investors who kept the faith in commodities even as prices were little changed in 2017 are reaping the gains.
Invesco's PowerShares DB Commodity Index Tracking Fund climbed for an 11th straight session through Wednesday, the longest winning streak since it was listed in 2006. The fund attracted $10 million in each of the first two trading days of the year, taking total assets in the largest ETF tracking a broad basket of commodities to $2.29 billion. Â
The Bloomberg Commodity Index climbed for a 14th straight session Wednesday, the longest rally in records going back 1991, amid signs of improving demand for raw materials. The JPMorgan global manufacturing index climbed in December to the highest since at least 2015, as the official factory gauge in China, the world's largest consumer of industrial metals, maintained momentum.
Read more about the 2017 performance of commodities here.
Goldman Sachs Group Inc. analysts said in December the outlook for commodities is brighter over the next year, predicting the sector will post a 7.5 percent return. Commodities are also luring more speculators, as the combined open interest of raw materials tracked by Bloomberg Intelligence gained about 13 percent over the past year.
To contact the reporter on this story: Luzi Ann Javier in New York at ljavier@bloomberg.net.
To contact the editors responsible for this story: James Attwood at jattwood3@bloomberg.net, Joe Richter, Steven Frank
©2018 Bloomberg L.P.
-
Why Amazon And Flipkart Are Struggling To Beat Meesho In India's Smaller Cities
With 274 million users and lowest-cost logistics, Meesho is defending its value commerce crown against giants like Amazon and Flipkart.
-
High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
The suspension of PERM processing at eight technology employers does not cancel existing H-1B visas. What it does is force a question many Indian families have been avoiding: is the US salary worth tying your career and family plans to one employer?
-
Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
Eternal is building a private AI assistant, dark.ai. Swiggy is still working out how to make Instamart pay, with an operating loss of Rs 895 crore in the July-September quarter while Blinkit stayed profitable.
-
Where You Live Shapes How You Get To Work | The Reason Why
Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
