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Tag "commodities"

Market overreactions may turn into opportunities for long term investors

Market overreactions may turn into opportunities for long term investors

🕔08:05, 19.Mar 2020

Key messages At the time we are writing, major losses are occurring in risk assets, with equity indexes in Europe opening down today by around -6% to -8% and volatility spiking (VIX index above 58, a level not touched since

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Energy Monitor

Energy Monitor

🕔07:44, 13.Mar 2020

OPEC and partners failed to reach a new production cut agreement Russia refused to join the OPEC meeting on reaching an agreement for a bigger production cut. As a result, the current production cut agreement (officially -1.7 mb/d + 0.4

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Servicing beyond solutions

Servicing beyond solutions

🕔16:58, 2.Mar 2020

The fourth quarter ended on a high note with US equities marching to new record highs. It closed a year where the narrative mostly had been pessimistic. Uncertainties around trade tensions, Brexit, political drama and recession fears have dominated. The

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Rising risk aversion, falling bond yields

Rising risk aversion, falling bond yields

🕔15:01, 26.Feb 2020

In Credit –  24 FEBRUARY 2020 Macro / government bonds Core bond yields continue to drift lower in a ‘bull flattening’ amid fears about the spread of the COVIC-19 coronavirus outside of China and most recently in Italy and Korea.

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Viewpoint from Financial Partners

Viewpoint from Financial Partners

🕔16:43, 24.Feb 2020

Market commentary As the year began, so it ended, with yet another strong month for risk assets in December, capping one of the best years for markets since the financial crisis. Equities again led the charge, but leadership for once

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Coronavirus turmoil is overshadowing commodities

Coronavirus turmoil is overshadowing commodities

🕔16:06, 24.Feb 2020

Commodities and the energy space in particular have been challenged by the coronavirus outbreak. How the infection rate evolves over the upcoming days and weeks will be critical, especially to the oil-price outlook. Chinese copper importers have declared force majeure.

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Bulls infected by a virus

Bulls infected by a virus

🕔14:38, 18.Feb 2020

Multi Asset Monthly Economic Outlook The trade truce and the stabilization in manufacturing data have reduced recession risks, but it is still too early to give an all-clear signal. How much damage business confidence has already suffered remains a question,

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Questions amid a constructive backdrop

Questions amid a constructive backdrop

🕔06:45, 3.Feb 2020

IN SHORT Questions surround the coronavirus outbreak, with an impact expected on Q1 data, especially in China. Markets have proven mostly resilient so far, but short-term volatility is likely to remain elevated. We maintain a more constructive view for the

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CEE resilient to coronavirus

CEE resilient to coronavirus

🕔13:02, 31.Jan 2020

The impact for CEE economies stemming from China and World GDP slowdown (if any) should remain limited if the virus is contained within a short period of time. CEE, as a net commodity importer, could benefit from lower commodity prices.

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All quiet on the UK high street.

All quiet on the UK high street.

🕔15:07, 22.Jan 2020

In Credit

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Stabilization amid heightened uncertainties

Stabilization amid heightened uncertainties

🕔14:45, 21.Jan 2020

Allocation views – Perspective from Franklin Templeton Multi Asset Solutions The new year started with a bout of volatility, driven by tensions in the Middle East. US forces assassinated General Qassem Soleimani, leader of Iran’s Revolutionary Guard Corps, which grabbed headlines and

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Supply begets demand

Supply begets demand

🕔14:59, 16.Jan 2020

In Credit 13 JANUARY 2020 Macro / government bonds The rise (and subsequent fall) in tensions and combative rhetoric in the Middle East has been the key driver for ‘risk ‘free’ assets such as core government bonds. All in all, bonds

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Energy Monitor: OPEC fails to convince

Energy Monitor: OPEC fails to convince

🕔12:01, 18.Dec 2019

Last week, the OPEC has decided, together with her partners (combined OPEC+), to increase its production cut agreement. The existing agreement to lower crude production by 1.2 million barrels per day (mb/d) was raised with another 503 kb/d to a

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Slowdown in the subcontinent

Slowdown in the subcontinent

🕔13:50, 7.Dec 2019

In Credit 2 DECEMBER 2019  The Thanksgiving holiday meant it was a shorter and quieter week in core bond markets with little discernible direction. It was also a light week for data releases or political developments. In the US, the Chicago

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Commodities wait while equities rally

Commodities wait while equities rally

🕔09:33, 5.Dec 2019

Commodity Monthly Monitor We are still waiting for a confirmation of a “phase one” deal between US and China, with the term only really being used by the US. In the absence of a deal, we could see US tariffs

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Latin America’s socio-economic turmoil follows the region’s structural decline

Latin America’s socio-economic turmoil follows the region’s structural decline

🕔09:59, 2.Dec 2019

Key points Latin America’s struggling. Since the end of the commodity-fuelled economic boom six years ago, economic stagnation has set in across the region. Subdued growth and generally high levels of inequality have translated into increased political volatility. These events

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Softs Asia remains important growth market for cocoa, sugar and coffee

Softs Asia remains important growth market for cocoa, sugar and coffee

🕔14:02, 20.Nov 2019

Asia remains an important growth market for cocoa, sugar and coffee and demand on this continent will grow the most in the coming years. China and India account for a particularly large share of the demand. Although demand is increasing

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BRICS Economies & Commodities in the Spotlight

BRICS Economies & Commodities in the Spotlight

🕔12:33, 18.Nov 2019

An Emerging Commodity Coalition Why this report? Regardless of size in global GDP, the BRICS are responsible for almost half of consumption and production of commodities. This makes BRICS an interesting topic to address. But the BRICS will face some

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Commodity price trends remain mixed in the short term

Commodity price trends remain mixed in the short term

🕔07:30, 15.Nov 2019

 Over the past month, the CRB index rose by almost 2%, which was mainly due to the price gains in oil and gas. Going forward, higher geopolitical tensions could push prices higher. Industrial metal prices remained soft, while precious metal

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Consider This

Consider This

🕔18:50, 11.Nov 2019

On the Markets As we head toward the end of the third quarter, I can’t help but think it feels very similar to last year in many ways. The S&P 500 is trading right where it was a year ago, near its all-time

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Late cycle investing

Late cycle investing

🕔18:22, 11.Nov 2019

Quarterly Investment Strategy Fourth Quarter 2019 We continue to recommend being cautious though not necessarily bearish. The global expansion is very mature and at the same time, global growth has slowed significantly compared to last year. Additionally, an elevated number

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Geopolitical clouds start to clear

Geopolitical clouds start to clear

🕔15:35, 6.Nov 2019

In Short While some data misses continue, especially in manufacturing and in Europe, we believe that economic releases are pointing towards a stabilization in growth. Optimism is spreading that the worst may be behind us, thanks to improvements in the

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Industrial Metals Insights Economic turmoil affects metal prices

Industrial Metals Insights Economic turmoil affects metal prices

🕔11:11, 24.Oct 2019

Prices in metal markets are heavily influenced by cyclical trends Base Metals: weakening global economic growth is dampening prices Steel: output is high with weak manufacturing demand, particularly for cars Steel (raw materials): cheapest types of iron ore remain popular

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What Warren Buffet got wrong about gold

What Warren Buffet got wrong about gold

🕔07:58, 16.Oct 2019

Legendary investor Warren Buffett’s much-quoted dismissal of the investment merits of gold is simple: the metal is “neither of much use nor procreative.” But the Oracle of Omaha has got this wrong. We believe that contrary to Warren Buffett’s complaints

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Abqaiq Attack A Turning Point In The Oil Market

Abqaiq Attack A Turning Point In The Oil Market

🕔08:58, 14.Oct 2019

The largest oil supply disruption on record The attacks on the Abqaiq and Khurais oil facilities in Saudi Arabia on 14 September triggered the largest oil market disruption on record. The attacks caused 5.7mbd of Saudi production to be shut

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After the Saudi Attack, Is There Opportunity in Oil Futures?

After the Saudi Attack, Is There Opportunity in Oil Futures?

🕔07:36, 10.Oct 2019

The first reports from Saudi Arabia after drone attacks on its key Abqaiq and Khurais oil fields seemed grim. About half of Saudi production was lost, and the drones inflicted significant damage on two key types of equipment: spheroids and

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Is oil’s relationship with energy stocks slipping?

Is oil’s relationship with energy stocks slipping?

🕔15:51, 9.Oct 2019

Our chart of the month shows that the link between energy stocks and oil appears to be on the slide. What’s happening? Typically, the US energy sector trades in tandem with oil prices. The sector is largely made up of

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Monthly Commodity Insights –  …price forecasts for commodity markets

Monthly Commodity Insights – …price forecasts for commodity markets

🕔08:36, 4.Oct 2019

Weaker economic drivers limit upside commodity prices After a drop below 170 in August, the CRB-index recovered to 180. The main driver was higher WTI crude prices, which account for 23% of the index. We expect more range trading in

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Goud wint aan terrein te midden van onzekerheid

Goud wint aan terrein te midden van onzekerheid

🕔14:30, 30.Sep 2019

Onzekerheid troef terwijl de goudprijs recordhoogtes bereikt De handelsspanningen zijn handelsoorlogen geworden en de handelsoorlogen dreigen valuta-oorlogen te worden. Op 26 augustus bereikte de goudprijs zijn hoogste punt in zes jaar: 1.555 USD per ounce. De markten reageerden hiermee op

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Base Metals Uncertain

Base Metals Uncertain

🕔10:10, 13.Sep 2019

A diverse picture has emerged in base metals markets. The prices of aluminium, copper and zinc are now relatively low, while the price of nickel has risen to new heights. Clearly, the uncertain macroeconomic climate is having a depressing effect

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Will silver continue to catch up?

Will silver continue to catch up?

🕔17:04, 3.Sep 2019

Since the start of this year silver prices have risen 10% versus the US dollar and 13% versus the Chinese yuan and the Indian rupee. Despite the strong rise in silver prices, their overall performance has been rather disappointing. Gold

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Is platinum the new gold?

Is platinum the new gold?

🕔12:22, 3.Sep 2019

From the start of this year to 5 July, platinum prices underperformed palladium prices and gold prices by a wide margin, with only silver price performing worse. Since July, silver prices have caught up with gold prices, outperforming all other

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Energy Monitor 20 August 2019

Energy Monitor 20 August 2019

🕔12:27, 23.Aug 2019

Henry Hub Natgas prices under pressure based on high supply US Henry Hub Natgas prices have been under pressure since 2005. One reason is that in recent years US gas production has been on the rise. Not only the traditional

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Oil prices revised lower

Oil prices revised lower

🕔07:40, 15.Aug 2019

Lower economic growth leads to slower growth of global oil demand Due to the new escalation of the trade war between the US and China an agreement seems to be further away than ever. The import taxes have a negative

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Gold: Near term correction risk

Gold: Near term correction risk

🕔19:08, 14.Aug 2019

Gold prices have rallied by 17% this year. On 21 June our year-end forecast of USD 1,400 per ounce was reached and on 5 August our year-end 2020 forecast of USD 1,500 was also reached. We had expected higher gold

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A turn in the tide?

A turn in the tide?

🕔17:41, 7.Aug 2019

Markets at a glance Core government bond yields were sharply lower last week as the US Federal Reserve and Donald Trump gave financial markets much to ponder. On Wednesday, the FOMC reduced interest rates by 25bps, the first move since

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Our Monthly Analysis And Outlook On Commodities

Our Monthly Analysis And Outlook On Commodities

🕔08:41, 22.Jul 2019

As the first half of the year has elapsed, it is time to take stock of the developments within the commodities space. Some key price drivers changed quite dramatically; notably the move of central banks towards dovish monetary policies has

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OPEC delivers as expected

OPEC delivers as expected

🕔13:02, 5.Jul 2019

OPEC extends its production cut agreement with another nine months As expected, OPEC extended its production cut agreement of 1.2 million barrels per day (mb/d) with another nine months. Together with its partners, led by Russia, OPEC will maintain current

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Monthly Commodity Insights

Monthly Commodity Insights

🕔11:02, 28.Jun 2019

A more negative base view but still neutral on commodity prices We have downgraded our forecasts for global economic growth and we now expect a global monetary easing cycle to take shape, starting in US before too long. The changes

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Central banks fuel markets: illusion vs reality

Central banks fuel markets: illusion vs reality

🕔15:00, 27.Jun 2019

Global Investment Views  The journey from market complacency to awareness of fragilities is in full swing, and the market correction in May is part of that, as is the recent recovery fuelled by dovish Central Banks (CB). Aware investors should

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Tapping Opportunity in Oil and Gas Infrastructure

Tapping Opportunity in Oil and Gas Infrastructure

🕔15:06, 13.Jun 2019

M idstream energy infrastructure companies have, in our view, generally emerged from the balance sheet and nancing challenges that had plagued the sector since 2014. With these issues now largely in the rearview mirror, oil and gas master limited partnerships

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We remain positive on gold

We remain positive on gold

🕔17:02, 6.Jun 2019

Precious Metals Watch Technical picture and the prospect of monetary policy easing are positive Trade war uncertainty could dent gold demand from China We keep our year-end forecast at USD 1,400 per ounce 

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The relevance of gold as a strategic asset

The relevance of gold as a strategic asset

🕔15:02, 23.May 2019

Gold is becoming more mainstream. Since 2001, investment demand for gold worldwide has grown, on average, 15% per year. This has been driven in part by the advent of new ways to access the market, such as physical gold-backed exchange-traded

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Trade tensions trouble commodity prices

Trade tensions trouble commodity prices

🕔11:02, 20.May 2019

Monthly Commodity Insights On 10 April the CRB set a top and the index started a modest decline. Since 22 April the decline has accelerated and the index has lost around 5%. The decline of oil prices since 25 April

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Grondstoffenstrategie bewijst toegevoegde waarde in institutionele beleggingsportefeuilles

Grondstoffenstrategie bewijst toegevoegde waarde in institutionele beleggingsportefeuilles

🕔14:02, 13.May 2019

Outperformer bereikt 3-jaars mijlpaal De Achmea IM Grondstoffenstrategie vierde op 31 maart 2019 haar derde verjaardag. De strategie biedt professionele beleggers de mogelijkheid om eenvoudig in grondstoffen te beleggen met als doel: inflatiebescherming en diversificatie aanbrengen in de beleggingsportefeuille. De

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Achmea IM Grondstoffenstrategie bewijst toegevoegde waarde in institutionele beleggingsportefeuilles

Achmea IM Grondstoffenstrategie bewijst toegevoegde waarde in institutionele beleggingsportefeuilles

🕔15:00, 8.May 2019

De Achmea IM Grondstoffenstrategie vierde op 31 maart 2019 haar derde verjaardag. De strategie biedt professionele beleggers de mogelijkheid om eenvoudig in grondstoffen te beleggen met als doel: inflatiebescherming en diversificatie aanbrengen in de beleggingsportefeuille. De strategie heeft momenteel een

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Index Dashboard: U.S.

Index Dashboard: U.S.

🕔13:02, 1.May 2019

U.S. equities gained steam in April, powered by positive earnings, potential progress in U.S./China trade talks, and recent dovish sentiment from the Fed. The S&P 500®, the S&P MidCap 400® and S&P SmallCap 600® all gained 4%, and the VIX®

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Geopolitical poker games

Geopolitical poker games

🕔11:02, 26.Apr 2019

Energy Monitor US ends waivers on Iran sanctions Iran crude exports will drop, but not as far as people may fear Oil prices may gain somewhat, but upside potential is limited 

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Resurrecting commodity prices?

Resurrecting commodity prices?

🕔11:02, 26.Apr 2019

Monthly Commodity Insights  This year the CRB-index has risen by 10%. But over the past month the pace in growth of the index deteriorated slowly. Since mid-March, the CRB-index increased by only 1.4% until now. As we discussed in our

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Can the gold industry return to the golden age?

Can the gold industry return to the golden age?

🕔15:02, 20.Apr 2019

Digging for a solution to the gold mining reserve crisis The gold industry finds itself at an inflection point between the recent era of cost out initiatives and balance sheet deleveraging, and an increasing need to focus on growth and

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