Failure of health care reform legislation on Friday had some pundits signaling the end of the so-called “Trump trade” that fueled a rally in stocks and commodities after the election. But wary money managers on Wall Street were selling early in the week, just as they were doing the past month.
Friday’s Commitment of Traders report from the Commodity Futures Trading Commission showed widespread selling in crude oil and agriculture as of Tuesday, when the data is collected. Selling in the most of the grain market by funds continued the rest of the week, according to daily player sheets put out by Reuters.
Selling in Ag came not only from big speculators known as hedge funds. But investors buying index funds that track an array of commodities were also liquidating some of their positions.
Here’s a breakdown of what the funds were doing.
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