Ukraine: Winter & Sanctions Impact The Ukraine-Russia Conflict continued its winter slog as the headlines focused on the city of Bakhmut with Russia reportedly sending in some of the 300,000 recruits mobilized late last year as the situation devolved into trench warfare. The US and Norway estimated that Russia…
2022 was a good year for managed futures. CTA indices all reported positive results, with Barclay’s CTA index posting a ~+7% return for the year, and the SG CTA index posting a return of ~+20%. Trend following strategies, which had been looked over the last decade, came back into favor…
January was a much needed bounce back month led by Crypto (+36.13%) and Softs (+12.22%). Crypto (+36.13) stayed true to its history of extreme volatility by producing a large gain after a poor performance last month. Stocks rallied in January, capping a gain of nearly +6.20% for the S&P 500.…
Commodities: Global OPEC Production Unexpectedly Increased, reaching 29.0 million barrels per day (mbpd) during December (Bloomberg), still much less than the lowered quotas of 31.4 mbpd. A surprise increase from Nigeria was responsible for the improvement. OPEC+ announced no change at their December meeting but reserved the expectation to…