While other-country government bonds are being shunned amid a gloomy economic outlook, Indonesia's government bonds offer high yields in an inflation-controlled environment, a global analyst says. An estimated global slowdown triggered by high oil and food prices and fears of a U.S. recession have discouraged investors from buying government bonds. However, Chew Soon Gek, chief investment officer for ... [full story]
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Commodities plunged the most since March, led by tumbling grain futures, as rains from eastern Colorado to Pennsylvania improved prospects for U.S. crops. Energy prices also dropped. The Reuters/Jefferies CRB Index fell 2.8 percent to 460.23, the biggest drop since March 19. Corn, soybeans, wheat and cotton plummeted the maximum allowed by U.S. exchanges. Crude oil dropped 2.7 percent ... [full story]
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Stock markets across Asia were mixed on Monday with Australia declining after weaker commodity prices weighed down resource firms, while Hong Kong was propped up by gains in the banking sector due to strong first-half earnings forecasts by Chinese lenders. Oil's continued advance to nearly $146 a barrel weighed on markets with a high reliance on imported fuel, sending ... [full story]
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COMMODITIES are heading for their best first half in 35 years, but the next six months might not be as rewarding. Record prices for oil, copper and a dozen other raw materials might crimp consumption and encourage growth in supply. The 19 commodities in the Reuters/Jefferies CRB Index jumped 29 per cent this year, the most since 1973 ... [full story]
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There is more than a bit of Enron in oil prices, it can now be rightly inferred. The financial speculation, seemingly rampant of late in the main energy markets like the New York Mercantile Exchange, has much to do with the once high-profile, but since infamous, Enron Corporation of the US, which went belly-up some years ago. The fact ... [full story]
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Oil ended above $140 a barrel Friday after touching a record high of nearly $143, with investors piling into commodity markets as stock markets and the dollar plunged for a second straight day. The Reuters-Jefferies CRB Index, which tracks 19 commodity futures, was up 30 percent year-to-date after hitting a record high of 466.82 points. World equity markets, ... [full story]
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Following a growing demand in global commodity consumption Mirae Asset Management company has launched an open ended equity fund named Global Commodity Stocks Fund. The new offer document has opened on June 24 and will close on July 23. The investment objective of the scheme is to generate long term capital appreciation through an actively managed portfolio investing in ... [full story]
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Hong Kong plans to launch a new exchange to trade fuel oil and other commodities in an effort to capitalize on the booming market for raw materials in China, officials announced Wednesday. The Hong Kong Mercantile Exchange will trade U.S. dollar oil contracts when it opens in the first quarter of 2009, then expand into other commodities trading, the ... [full story]
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A proposal to ban large pension funds and other institutional funds from commodities trading was sharply criticized Tuesday, with a U.S. senator who is working on legislation to curtail energy speculation also arguing against the ban. "While I believe that the influx of money by pension funds" and other financial investors "has had a detrimental impact on prices, prohibiting ... [full story]
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Commodity Futures Trading Commission acting Chairman Walter Lukken told a congressional panel Monday that it is imperative that strong enforcement actions be taken in order to prevent illegal manipulation of the commodities markets, noting that the markets are "ripe" for such manipulation. The CFTC chairman did not go onto say whether or not there was speculation taking place in ... [full story]
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Private investors are calling time on commodities, despite continuing record prices within the sector. Research from Capita, the share registrars, shows the sale of natural resource stocks generated the greatest activity by private investors in any sector over the past 18 months. But with many private investors citing inflation as the greatest threat to their assets, analysts question whether ... [full story]
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British private investors have chosen to call time on commodities, in spite of continuing record prices within the sector, writes Elaine Moore. Research from Capita, the share registrars, shows the sale of natural resource stocks generated the largest amount of activity by private investors in any sector over the past 18 months. Resource stocks have risen in value ... [full story]
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Crude oil fell more than $4 a barrel, the biggest drop in 11 weeks, on speculation demand will decline after China said it will raise fuel prices starting tomorrow. China, the second-biggest fuel consumer after the U.S., will increase gasoline and diesel prices by as much as 18 percent, the National Development and Reform Commission said. Saudi Arabia's King ... [full story]
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Prices of select commodities went up in the wholesale foodgrains market here on Thursday. Prices of moong dal went up by Rs 100 per quintal to Rs 3,700 against the previous rate of Rs 3,600. Urad dal, wheat and sooji all moved up by Rs 50 each to Rs 3,850, Rs 1,550 and Rs 1,550 respectively. Both gram dal ... [full story]
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European shares pulled back Thursday from lows last seen in March, turning modestly higher as investors attempted to compensate for higher inflation by buying up commodity-sector shares. "We suspect that it is still too early to call the top in the commodity bull run," said Citigroup portfolio strategists, noting that commodity-sector stocks are obvious hedges for investors worried about ... [full story]
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Agriculture futures traded mixed Tuesday on the Chicago Board of Trade. Wheat for July delivery added 8.5 cents to $8.85 a bushel; July corn traded flat at $7.325 a bushel; July oats lost 2 cents to $4.19 a bushel; July soybeans rose 7 cents to $15.41 a bushel. Beef futures traded lower and pork futures traded higher on ... [full story]
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On Wall Street, where just about everyone has lost confidence in financial assets, Goldman Sachs Group Inc. and Morgan Stanley are making money the old-fashioned way: Buying and selling commodities. Goldman and Morgan Stanley are expected by analysts to report the best second-quarter earnings of the world's biggest securities firms this week, having limited their losses from the collapsing ... [full story]
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In the aftermath of announcement of budget and upward revision in the Sales Tax by one percent on imported items and other locally manufactured consumer items, substantial increase in prices of most of the commodities is registered in the wholesale and retail markets of Karachi. An overwhelming majority of traders have already jacked up rates of most of the ... [full story]
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may well go down as benchmark days in the history of the commodities boom, a secular move that took hold in early 2002 and is yet to convincingly blow off. It was on these two days that the world's biggest oil stock, Exxon Mobil, traded close to record levels, and also when BHP Billiton, the world's biggest diversified resources stock, ... [full story]
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The Indian commodity market is expected to grow by 30 percent and will reach Rs.74,156 billion ($1.73 trillion) in volume by 2010, according to a study by the Associated Chambers of Commerce and Industry of India (Assocham). Assocham found that the Indian commodity market expanded 50 times in a span of five years from Rs.665.3 billion in 2002 to ... [full story]
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Sen. Joe Lieberman, a Connecticut independent, plans to unveil a legislative proposal Wednesday that would prohibit institutional investors from making further investments in commodities once they exceed a certain limit, said a staff member in the senator's office Friday. The bill will be one of three proposals aimed to curb financial speculation in commodities markets. The other two include limiting ... [full story]
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Commodities are becoming scarcer, and in general I buy the argument for investing in them. But is it enough to be in broad agreement with that trend, or do I need more concrete data before investing? Take uranium, for example: Energy prices are soaring, and climate change has put nuclear energy back on the agenda for many countries. At ... [full story]
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Surging food and energy prices are fanning global inflation pressures, but the 1970s scenario of anemic economic growth and sky-high prices is unlikely, with the commodities bubble expected to eventually burst. Analysts at this week's Reuters Investment Outlook Summit in New York said that while much of the commodity price rise was being driven by supply and demand, speculative ... [full story]
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The state urban development minister and the Siliguri MLA, Mr Asok Bhattacharya today said that supplies of essential commodities and food to the Darjeeling hills would be ensured under police protection from tomorrow. The minister's statement comes following the anti-Gorkhaland stir in Siliguri. “None would be allowed to stop the food supplies to the hills. The police and administration ... [full story]
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Back in 2001, the executives running Australian mining giant BHP Billiton sensed that China's economic growth was gaining critical mass. So they commissioned a study on how the country's rapid industrialization might affect the global markets for copper, coal, iron ore, oil - all the stuff that the company pulls out of the earth and sells. "The results were ... [full story]
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"Recent substantial increases in the price of crude oil and other commodities have put considerable strain on American families, farmers and businesses," said Walter Lukken, acting commissioner of the Commodity Futures Trading Commission. "We share public concerns about the need for the utmost transparency and integrity in the energy futures markets." It's a time-honored Washington ritual. When the price ... [full story]
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President Gloria Macapagal-Arroyo ordered her Cabinet to fan out to the provinces for a first-hand check on prices of rice and fuel, and to look into other problems there, Executive Secretary Eduardo Ermita said on Sunday. "The President want us to be visible in the provinces. She wants to know the situation on the ground and for us to ... [full story]
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Soaring commodity prices, so far a key supporter of emerging markets performance, may weigh on the high-yielding asset class this week as sky-high energy a and food costs threaten global growth. With a barrel of U.S. crude oil at an all-time high of more than $138, investors are becoming increasingly concerned that inflation will force central banks to raise ... [full story]
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Oil and metals markets are undergoing a correction that fund managers say could take some prices down by 10-20 percent, but the long-term uptrend seems intact and a fall is only likely to draw in more investors. Many of the investors who missed out on the commodities rally early this year are preparing to enter those markets for the ... [full story]
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Before backing off, crude oil recently hit the $135 per barrel and some analysts now see $200 oil as a real possibility. I do as well, although not until late 2009 or so and not until after some type of meaningful correction near term. Meanwhile, food riots have broken out across the globe as millions of people effectively have been ... [full story]
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Buy the U.S. dollar and sell commodities. That’s the advice from the currency strategy team at Brown Brothers Harriman. They say the reversal of a trade that has worked so well for much of 2008 is rooted in the belief that greenback is bottoming. “If the dollar can put in a convincing reversal against the euro, then this may ... [full story]
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Next time you face sticker shock at the gas pump over a $4 gallon of gas, check out your pension fund's investments. They may explain much about the surge in oil prices. Institutional investors such as pension funds, university endowments and sovereign wealth funds have ramped up investing in commodities as a hedge against inflation and to seek out ... [full story]
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