The Dow Jones-UBS Commodity Index was down 8.36% for the month of May as commodities saw some reversal of the so-called “inflation trade,” where market participants bought commodities in anticipation of inflation. A strengthening U.S. dollar was viewed as non-inflationary, and the rise in the dollar made commodities more expensive to those holding other key currencies.
Click here to download the industry commentary for May 2011
