Did somebody use the word recession? According to Bloomberg’s Elizabeth Campbell hedge
funds cut bullish commodity bets to a six-month low as mounting concern that
slowing economic growth will erode demand drove prices toward the first
fourth-quarter retreat since the global recession.
Speculators reduced net-long positions across 18 U.S.
futures and options by 11 percent to 675,625 million contracts in the week
ended Dec. 24, the lowest since June 19, U.S. Commodity Futures Trading
Commission data show. Gold holdings reached a four-month low, while those for
copper dropped for the first time in five weeks. Investors are the most bearish
on natural gas since May.
The Standard & Poor’s GSCI Spot Index of 24 raw
materials fell 3.2 percent since Sept. 30, the first retreat for the period
since 2008....
Don't take our word for it. Go check out http://www.bloomberg.com/news/2012-12-30/hedge-funds-cut-bullish-bets-to-lowest-since-june-commodities.html
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