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…
Ukraine: Winter & Sanctions Impact The Ukraine-Russia Conflict was gripped by winter, with Russia targeting electrical infrastructure and limited spoiling attacks to keep the Ukrainians from extending their gains. Russia’s additional mobilization of 300,000 recruits started to see the front but were likely waiting for spring operations. Ukraine continued…