Hedge Funds Reduce Bullish Bets by Most in a Month: Commodities


17 December 2012
, by Joe Richter (Bloomberg)

Excerpt:

Hedge funds cut bullish commodity bets by the most in a month as the Federal Reserve warned the U.S. budget impasse may damage the economy, increasing concern about demand just as prices head for the first loss since 2008.

Speculators and money managers decreased net-long positions across 18 U.S. futures and options by 11% to 802,817 contracts in the week ended Dec. 11, U.S. Commodity Futures Trading Commission data show.

Sugar holdings tumbled 68%, the most in five years, and those for wheat dropped to the lowest since June. Wagers on higher crude-oil prices tumbled 21%, the most since May.

The Standard & Poor’s GSCI Spot Index of 24 raw materials retreated 4.2% this quarter, with U.S. lawmakers in a stalemate on how to avoid about $600 billion in tax increases and spending cuts that start next month.

The Fed “doesn’t have the tools” to counter the risks to the economy should there be no deal, Chairman Ben S. Bernanke said Dec. 12.

“The fact that the Fed is saying that there’s only so much they can do spooked people,” said John Stephenson, who oversees about $2.74 billion at First Asset Investment Management Inc. in Toronto.

“They basically admitted that they don’t have what it takes to deal with the fiscal cliff, and it took the shine off the idea that unlimited money printing will help commodities.”


bloomberg

Views: 115

Reply to This

Latest Activity

Less Prone commented on Sweettina2's video
54 seconds ago
James T. Kirk posted videos
8 minutes ago
James T. Kirk favorited Chris of the family Masters's photo
10 minutes ago
Less Prone replied to Diana's discussion Kim Jong Un’s state news agency labels Joe Biden ‘a low IQ idiot’
"He's trying to focus the attention of the people in things far away. They do have some…"
52 minutes ago
Less Prone replied to MAC's discussion Target Sells LGBTQ Clothing For Children, Funds Group Whose Founder Praised NAMBLA Defender
"She's got talent."
59 minutes ago
Less Prone replied to MAC's discussion Target Sells LGBTQ Clothing For Children, Funds Group Whose Founder Praised NAMBLA Defender
"Where is the logic of their pride and being offended for being called what they are?"
1 hour ago
Less Prone commented on Old Denmark's blog post Pull Danish troops back home to man WALL on German border, anti-Islam right-wing party leader says
"This makes sense. The Danish troops should primarily be responsible for defending Denmark and…"
1 hour ago
Less Prone favorited Old Denmark's blog post Pull Danish troops back home to man WALL on German border, anti-Islam right-wing party leader says
1 hour ago
oldranger_68 favorited cheeki kea's photo
2 hours ago
oldranger_68 favorited Diana's photo
2 hours ago
oldranger_68 favorited Diana's photo
2 hours ago
Burbia posted a video

THEY NEVER SEEN ANYTHING LIKE IT #WEATHERWARFARE LIVE!! #ANALYSIS

Multistreaming with https://restream.io/ #TORNADO #OUTBREAK #WEATHERWARFARE LIVE!! #ANALYSIS #CATASTROPHIC #TORNADO'S #STORM OF THE #CENTURY SHOW LINKS:MUCH ...
2 hours ago
oldranger_68 favorited Diana's photo
2 hours ago
oldranger_68 favorited Diana's photo
2 hours ago
oldranger_68 favorited Chris of the family Masters's photo
2 hours ago
Burbia commented on Sweettina2's video
Thumbnail

Rep Omar Says She's Relocating Back to Somalia

"Ffs. I'm sure someone Jewish had to clear the movie, "All About the Benjamin's"…"
2 hours ago

Please remember this website is supported by your donations...

© 2019   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2015 - all rights reserved. unless otherwise noted