Speculators raised bullish bets on commodities before signs of Europe’s deepening debt crisis and slowing Chinese growth drove prices lower for a fourth consecutive week, the longest slump since September.
Hedge funds cut their bets on higher commodity prices by the most in four months on mounting concern that Europe’s debt crisis will derail global growth and curb demand for raw materials.
Last week’s record volatility in U.S. stocks ended after four days. The anxiety it instilled among mutual-fund investors may linger for years.
Russian shares traded in London and New York fell yesterday as oil declined to a four-week low and Greece was assigned the world’s lowest debt rating.
Sales of floating-rate debt are accelerating as Pacific Investment Management Co.’s Bill Gross says investors should buy the securities to protect against a possible rise in interest rates .
"There's definitely been an August slowdown."
- Brad Durham on Aug 19, 2012