Our call of the day from asset manager Wisdom Tree offers more reasons to put money in one of 2022's best-performing assets.
It’s CPI day, and hopes are high that the inflation will be further tamed and take rate-hiking pressure off the Fed.
All that inflation talk brings us to our call of the day from asset manager and exchange-traded fund provider Wisdom Tree, whose commodities expert offers up more reasons to put money in one of 2022’s best-performing assets. And as broad commodities also do well against expected inflation, the asset class could remain an “important hedging instruments,” he says.
“On average, in all the months since the 1960s where U.S. equities have lost more than 5%, commodities have lost 0.65%. In all the months where U.S. equities gained more than 5%, commodities gained 1.13%,” he notes,. And with most countries well behind on climate change targets, an acceleration of decarbonizing technology is also likely. Plus an underinvestment in traditional energy sources, on which the world still very much depends, has left tight oil and gas markets. “Commodities provide the essential materials to manage this transition and are likely to benefit,” says Shah.
Contract chip maker Taiwan Semiconductor Manufacturing 2330 TSM , warned that weak economies and inventory adjustments will hit revenue and margins ahead.
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