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Key Highlights
- The S&P GSCI declined in November, off 78 bps, bringing year-to-date (YTD) performance to -3.1%.
- Energy was the best-performing sector in that it had the smallest decline, down 20 bps month-to-date(MTD).
- Precious and industrial metals declined the furthest in November, hurt by signs of improvement in theU.S. economy, such as positive housing and employment data.
Market Snapshot
he S&P GSCI was slightly negative for the month, off 78 bps in November, bringing YTD performance down to -3.1%. Precious and industrial metals declined the furthest, down 6% and 4.5%. Energy was the best-performing sector in that it had the smallest decline, down 20 bps MTD, and remained positive YTD, up 1.9%.
Signs of improvement in the U.S. economy, including positive housing and employment data, are pushing down on industrial and precious metals. A strengthening economy boosts the U.S. dollar and tends to raise interest rates, making the metals less attractive.
Manufacturing numbers are showing that the world recovery is on track. The central bank will meet next on December 17.
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