Late in the cycle, blue chip indexes like the DJIA and S&P 500 can fool investors by hiding subtler deterioration in the broad list of stocks. That’s been underway in the last couple of months, but it’s nothing in relation to the divergence that’s opened in the commodity market, where there’s an almost 20% YTD performance gap between the headline S&P/GS Commodity Index and its non-Energy components (Chart 1).
May
10
2019
Non-Energy Commodities Signal A Major Slowdown
tags
Commodities Non-Energy Commodities S&P/GS Commodity Index Commodity Index CRB Raw Industrials Boom/Bust IndicatorLogin
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