Commodities Analysis by James Picerno covering: Vanguard Total Stock Market Index Fund ETF Shares, WisdomTree Enhanced Commodity Strategy Fund. Read James Picerno's latest article on Investing.com
” The answer so far this year continues to be “yes,” as a rally for prices of raw materials continues to bubble after a rough 2023 in this corner of global markets.that commodities had overtaken US stocks as the top performer for global assets in 2024, and that leadership shift remains intact through yesterday’s close , based on a set of ETFs.). This ETF, which holds a variety of commodities, is up 12% year to date vs. a 9.
First, there’s debate about how to weigh commodities in a portfolio. In contrast to market capitalization for equities, there’s no obvious counterpart for defining a passive mix of commodities. One possibility is using the value of futures trading as a guide. Another is estimating the economic relevance for a given commodity vs. the counterparts. Not surprisingly, energy tends to be a leading slice of commodities portfolios.
“What’s going on right now is that the market’s sniffing out the possibility that global growth is going to be better than expected,” and supporting global inflation and commodity prices, says Nanette Abuhoff Jacobson, global investment strategist at Hartford Funds. In turn, that makes it a “much more difficult environment” for the Fed to cut interest rates, she predicts.“Since there has been a lot of money printing in the world, demand for commodities should be strong,” he predicts.
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