No end in sight for exodus out of commodity funds
Many markets are oversupplied; growth in China and EMs not fast enough to create demand
New York
INVESTORS are bailing out of commodity funds at the fastest pace on record, and the exodus shows no signs of ending.
US exchange-traded funds linked to broad baskets of raw materials saw a net outflow of US$1.23 billion over the first three months of the year, the most of any quarter since the securities were created in 2006, data compiled by Bloomberg show.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Glencore now sees FY trading division profit between US$3 billion-US$3.5 billion
Hong Kong team plants seeds to safeguard legacy grains
Gold holds steady as investors focus on US Fed meeting
Chevron CEO expects ExxonMobil arbitration resolved in coming months
Oil falls more than US$1/barrel on Middle East peace talks, US rate cut doubts
Diamond giant De Beers is in the shop window, but the potential buyers are few