Sector Commentary
Currencies: The U.S. dollar weakened, due in part to concerns about rising inflation. The British pound strengthened on optimism regarding Brexit talks. The euro strengthened after Germany, the EU’s largest economy, reported stronger-than-expected growth in exports exceeding expectations. The Australian dollar weakened on reports of slower than-expected-growth.
Energy: Crude oil prices rose as production cuts from OPEC caused inventory levels to decline and global demand to increase. Natural gas and heating oil prices rose because of lower-than-expected rise in inventories and expectations of colder weather.
Equities: U.S. equity markets rose on the prospect of comprehensive tax reform in the U.S. Asian equity markets also rose, driven by wage growth and earnings momentum. In Europe, equity index values fell following disappointing earnings reports and on the European Central Bank’s subdued outlook for wage growth.
Fixed Income: Global fixed income prices declined slightly as comments by the Federal Reserve confirmed expectations of an interest rate hike in December.
Grains/Foods: Corn and wheat markets declined on ample supplies. Sugar prices rose in anticipation the global supply surplus would shrink. Cocoa prices declined on ample supplies and expectations of favorable crop conditions. Cotton prices rose over nine percent after severe weather severely damaged Pakistan’s crop and as demand from China strengthened. Lean hog prices declined on oversupply concerns.
Metals: Base metal prices, particularly copper, fell on weaker demand from international markets.
Additional Information: For the Fund’s monthly Account Statement, including the net asset value per unit, and related information, please visit our website at grantparkfunds.com.
Daily fund performance and weekly commentaries are available on our website at grantparkfunds.com.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS
FUTURES TRADING INVOLVES A HIGH DEGREE OF RISK AND IS NOT SUITABLE FOR ALL INVESTORS
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