Hedge funds trimmed bets on a commodity rally for the first
time in nine weeks as signs of U.S. growth and speculation that central banks
will do more to stimulate economies drove prices to a three-month high the good folks at Bloomberg tell us.
Money managers lowered their net-long positions across 18
U.S. futures and options by 1.9 percent to 1.2 million contracts in the week
ended Aug. 7, U.S. Commodity Futures Trading Commission data show. The decline
ended eight consecutive weeks of gains, the longest streak on record. Soybean
wagers dropped by the most since early June just as prices surged for three
days and reached a two-week high.....
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