During the month of June, Grains (+10.47%) and Livestock (+8.89%) were the top performers. The bottom performers were Metals (-4.25%) and Interest Rates (-1.22%). On Jun 28, all 23 leading banks cleared the Fed’s annual stress test, attributing to the S&P 500 Index (+6.47%) producing its best month since October of 2022. Interest rates held steady in June, with indications we might see at least two more hikes before the end of the year. As the markets resume after a holiday shortened week, all eyes are on the release of the FOMC meeting minutes from June 14-15 which could provide more details on where monetary policy is heading.
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Sector & Index Performance Consists of the following:
Grains: Corn, Soybean Meal, Oats, Soybeans, Soybean Oil, Wheat, Rough Rice. Livestock: Live Cattle, Feeder Cattle, Lean Hogs. Softs: Cocoa, Orange Juice, Sugar No. 11, Random Length Lumber, Coffee, Cotton No. 2. Currencies: Euro Currency, Japanese Yen, British Pound, Canadian Dollar, Swiss Franc, US Dollar, Brazilian Real, Mexican Peso, Australian dollar. Indices: S&P 500, Mini Dow, Mini Nasdaq. Interest Rates: 30-year t-bond, 10-year t-note, 5-year t-note, Eurodollars. Metals: Gold, Silver, Copper, Platinum, Palladium. Energy: Crude Oil, Reformulated Gas, Natural Gas, Heating Oil, Denatured Fuel Ethanol. Crypto: Bitcoin and Ethereum. S&P 500 Index – All data collected from investing.com. S&P GSCI Index – data collected from us.spindices.com/indices/commodities/sp-gsci.