During the month of May, the top 3 performing sectors were: energies (+4.26%), livestock (+1.71%), and currencies (+1.26%). The bottom 3 sectors were: softs (-7.20%), metals (-4.59%) and grains (-2.24%). The first few weeks of the month saw continued sell off in the equity markets, as volatility continued from the month prior. The US dollar made a new short term high, but quickly reversed to end the month negative against most other major currencies. Gold and Silver continued its struggles as talks of peaking inflation has put downward pressure on both. Energies still remain strong, with Natural Gas (+12.44) and RBOB (Reformulated Gas, +13.76) leading the way. The general consensus is that the equity markets will continue its downward trend, with short term sharp rallies as selling opportunities to profit on continued moves lower.
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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. All data collected from investing.com. S&P 500 Index – data collected from investing.com. S&P GSCI Index – data collected from us.spindices.com/indices/commodities/sp-gsci.