MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI China Daily Summary: Thursday, December 12

RPT-MNI BOC WATCH: More Gradual Approach Seen After 50BP Cut

MNI BRIEF: Beijing To Protect Firms From U.S. Bill - MOFCOM

MNI: PBOC Net Injects CNY28.8 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1854 Thurs; -1.13% Y/Y

MNI: SWEDEN FINAL NOV CPIF +1.8% Y/Y

MNI:AUSTRALIA NOV UNEMPLOYMENT RATE +3.9%

MNI: US NOV TREASURY BUDGET -$366.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Goldman Forecasts Commodities as Top Asset Class for 2023

OIL

Commodities are likely to be the best performing asset class next year according to Goldman Sachs.

  • Underinvestment in new capacity, a rebound in global growth, China’s reopening, and a slowing of Federal Reserve rate hikes will power gains, analysts including Jeffrey Currie said in a December 14 note.
  • “While investors remain concerned with the 2023 growth outlook – a large driver of the latest sell-off – the global business cycle is far from over,” the note said.
  • “The long-run state of the market is predictable as supply and technological trends are far more persistent, with all the conditions required for another spike present in 2023,” it added.
  • “From a fundamental perspective, the setup for most commodities next year is more bullish than it has been at any point since we first highlighted the supercycle in October 2020,” it said.
  • Commodities are expected to return +43% in 2023, as measured by the S&P GSCI Total Return Index, the bank said, noting that gauge the returned +42% in 2021 and +23% in 2022 so far.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.