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The Best And Worst Performing Assets In Q2 And The First Half Of 2013
Here are the best and worst performing assets broken down by the three key time periods as we leave the first half of 2013 (it's not been a good year for wheat).
June
- Best: Silver
- Worst: Wheat
Q2
- Best: Russia's MICEX stock market
- Worst: Wheat
First Half
- Best: Italy's FTSE-MIB stock market and Spain's IBEX - thanks Draghi TLTRO
- Worst: Wheat
Some additional commentary from Deutsche Bank:
In YTD terms, of the main indices we track the FTSE-MIB (+14.5%) and the IBEX (+12.8%) have been the star performers. Spanish, Portuguese and Italian bonds have not been far behind. Interestingly commodities make up quite a few of the other top ten places (with the CRB index, Gold, Silver and Oil returning between 7-11%), but also 2 of the worst 3 with Wheat and Copper both down more than 6%. Also negative was Chinese equities (-1.5%) after disappointing growth in H1 which may explain some part of the weakness for certain commodities. The Nikkei (-6.1%) was the only other asset lower YTD in our sample. Apart from these four all the other assets saw a positive 2014 total return. Credit has put in a good performance in 2014 so far with most major indices returning between 4-7% which is impressive in the low yield, low spread environment.
Source: DB
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In the immortal words of Buzz Lightyear "To infinity and beyond".
Don't forget kiddies, long treasuries YTD are up 11+% and long munis, 8+%
Ah, them falling rates
Hope y'all gotchur income stored away in them thar portfolios.
Here's a bit of disconcerting math...
If Long rates drop from 4% to 3%, that's a 25% decline in yields. So if you had a $1,000,000 (for math simplicity) invested at 4% you earn $40k while at 3%, $30K. Simple, right?
So, if you had that $1,000,000 invested in socks that were up 25% while them rates fell, you'd think that you could get the 40K by buying into the now yielding 3% bonds, right?
Wrong. $1,250,000 earning 3% only'll getcha $37,500
Oppps!
Fuck me with my very own lost income!
The alternative asset would have had to rise by 33%, not 25% to get the same level of income, the $40k
Which, the math calc is right there.
You simply figure what increase in rates would be necessary to get back to the original level... or 3% to 4% is a 33% increase, so the stawks would have had to go up 33% to generate the same $40k
Say it ain't so, Joe.
Bond math 101
Fuck it, I'm going golfing.
There are no conspiracy theories, they're all fact, there's nothing new, might as well just enjoy our freedoms and rights at the peak of empire. Best time to party, they say. After all it does seem everything is broken beyond all repair. And that's why, they say, we need bigger, more activist government and will need to pay more taxes.
Oh and PS... don't forget that cap gains on the stocks is taxable while the income on the munis is not... so you actually need 33% + a whole bunch to have the after tax dollars to get back to the higher income level....
Sucks, don't it.
2013? or 2014?
Here are the best and worst performing assets broken down by the three key time periods as we leave the first half of 2013 (it's not been a good year for wheat).
Did Yahoo's writers morph into the Tylers????
EDIT!!!!!!!!!!
http://www.youtube.com/watch?v=EsCyC1dZiN8
A bearish and a bullish scenario for agricultural commodities
http://goldenopportunitytrading.blogspot.com
I can't believe I wasn't long wheat. How did that happen?
That damn "gluten free" craze is killing wheat.
I hear that Buckwheat (Zydeco) had a good year though.
Who needs farmers. We can always print some wheat, I suppose? ;-)
If/when farmers ever organize (large coop?), they will be able to 'manage' supply vs demand and thus control prices. As it is, all these loner alpha types remain disorganized -- hence, mostly poor.
I love those guys (BZ)!
Tech heading to 5000. "Finally! Boy did we have to go crazy to make that one happen!"
as we know all too well on ZH, crime was the top performer..SCOTUS enables TBTF banks to keep on truckin.
"Victims of the Ponzi schemes of Bernard Madoff and Allen Stanford, two of the largest in U.S. history, suffered setbacks on Monday as the U.S. Supreme Court refused to hear appeals in two cases seeking to recoup more money for them.
In the Madoff case, the court rejected a request by Irving Picard, the trustee liquidating Bernard L. Madoff Investment Securities LLC, to review the dismissal of his claims against banks he accused of enabling Madoff's fraud.
Separately, the court rejected a request by Ralph Janvey, a receiver unwinding Stanford's businesses, to review a ruling that blocked him from pursuing claims against Stanford employees on behalf of the receivership's creditors, not the businesses themselves."
Happy Canada Day ...... S&P/TSX Composite + 11.1% on the year.
Nobody ever expects the IBEX 35.
Gold and Silver as always....biaches.
But I dont think that buying gold and silver for their speculative potential is what they are best bought for.
Holding PMs as a backstop against hyperinflation or a government crash is the primary eason for buying them.
God willing, when I retire I plan to buy a lot of PMs and put them away in a foreign bank deposit box as a hedge against a Federal crash.
Any countries/banks anyone can recomend?
Bread sucks. The life out of you.
Unless you have the bread of life.
Dollars? No dollars, no life to speak of.
BTFD bitchez
/sarc
Wheat and corn low on the returns? But inflation in food and agriculture is killing consumer! The only reason the fed can report low inflation is because they are stripping it out. RIght? RIGHT?!? Oil prices still look pretty high though.
With all those all-time highs you'd think the S+P 500 could beat the barbarous metals.