July 3, 2022

June Returns and Asset Performance

Major Asset Classes June 2022 Performance Comparison Introduction June returns for the S&P 500 index had one of the largest drawdowns in the last 10 years.   Red ink is evident across all major asset classes.  US equity indexes have now fallen 4 out of the first 6 months of […]
July 1, 2022

Energy Futures- Sharp Drop in Natural Gas Positions

Energy Futures – Sharp Drop in Gas Positions Data from futures exchanges for June 28 shows a sharp decline in natural gas commitments by levered funds.  Specifically, net positions in natural gas declined 29.4% over the last week.  As a result, gas market open interest is no longer at record […]
June 29, 2022

Commitment of Traders Report 2022.06.28

Futures and Options Commitment of Traders Report June 28, 2022 Purpose The Commitments of Traders Report presents a weekly breakdown of the positions of hedge funds in futures and options markets. As a general rule, changes in hedge fund positions are positively correlated with changes in commodity market prices. For […]
June 3, 2022

May Returns and Asset Performance

Major Asset Classes May 2022 Performance Comparison Introduction May returns benefited from ‘spike lows’ in several asset markets, setting the stage for relief rallies over the second half of the month.  Performance across US equity indexes was mixed with several sectors posting notable gains.  Developed markets also posted positive gains […]
May 2, 2022

April Returns and Asset Performance

Major Asset Classes April 2022 Performance Comparison Introduction April market volatility was notable.  Red ink swept across the monthly results for most asset classes, highlighting the need for active risk management and strategies for capital preservation.  Equity and bond markets were down world-wide with few exceptions.  Strength in the US […]
April 2, 2022

March Returns and Asset Performance

Major Asset Classes March 2022 Performance Comparison Introduction March returns across markets were extraordinary for their speed and scale.   Returns across the asset classes were again dominated by events in Ukraine. Equity markets world-wide were up with only a few exceptions in the emerging markets. The market risk regime […]
March 2, 2022

February Returns and Asset Performance

Major Asset Classes February 2022 Performance Comparison Introduction February returns were dominated by events in Ukraine. Equity markets were down with only a few exceptions in emerging markets.  Value again led growth, consumer defensive stocks beat consumer cyclical stocks, and small-cap  beat large cap stocks.  A consistent theme in February […]
February 2, 2022

January Returns and Asset Performance

Major Asset Classes January 2022 Performance Comparison Introduction January returns slid significantly across all asset classes, with the exception of commodities.  Value lead growth stocks, consumer defensive beat consumer cyclical stocks, and large cap led mid- and small-cap stocks.  A consistent theme in January returns was the strong relative return […]
January 3, 2022

December Returns and Asset Performance

Major Asset Classes December 2021 Performance Comparison Introduction The major asset classes achieved positive returns in December.  Value lead growth stocks, consumer defensive beat consumer cyclical stocks, and mid cap outperformed large cap stocks.  Total returns on infrastructure project bonds and high yield corporate bonds again outperformed the S&P500, as […]
December 2, 2021

November Returns and Asset Performance

Major Asset Classes November 2021 Performance Comparison Introduction Red ink swept across the monthly results for most asset classes in November, highlighting the need for active risk management and strategies for capital preservation. Technology stocks performed well, as did U.S. investment grade bonds and inflation-indexed bonds. Finally, commodities continued to […]