Salient to Investors:
CTFC said hedge funds et al cut combined net-long positions across 18 U.S. futures and options by the most since June 5 and for the fifth week, the longest slump since April. Gold wagers fell to the lowest since August.
Adam De Chiara at CoreCommodity Mgmt said the tailwind for commodities from policy makers to boost economies will help demand rise, and doesn’t see the easing stopping anytime soon.
Michael Feroli at JPMorgan said the Fed’s open-ended program to buy $40 billion of bonds per month will last through half1 2014.
Walter “Bucky” Hellwig at BB&T Wealth Mgmt said stimulus programs may not be enough to combat the fiscal cliff, and has not added to position in commodities for some time and have a minimal exposure.
Max Layton at Goldman Sachs is increasingly cautious about copper short-term because of the fiscal cliff.
Cameron Brandt at EPFR Global said money managers added a net $235 million to commodity funds last week, with gold and precious metals accounting for $501 million.
National Bureau of Statistics said China’s industrial production rose 9.6 percent in October from a year ago, exceeding analyst estimates.
Jeffrey Sica at SICA Wealth Mgmt said the overall long-term trend is bullish,while fundamentals will help the agriculture pack, and central bank easing will support most commodities.