Over the past two months, the world's top 40 listed stocks in mining and oil have surrendered USD 1.45 trillion in value, apparently breaking the belief that commodities had become bullet proof. Investors have been flocking not only out of commodities, but also further out of listed mining and oil producers, which had latterly being playing second fiddle to hard commodities, preferred as inflation and crisis hedges.
Much of the sell down has taken place since July 15, when Ben Bernanke, chairman of the Federal Reserve, the US central bank, warned of a "cooling" period ahead for commodity prices.
Since then, crude oil prices have retraced by some 15%, after hitting a record $147 a barrel on July 15...
Much of the sell down has taken place since July 15, when Ben Bernanke, chairman of the Federal Reserve, the US central bank, warned of a "cooling" period ahead for commodity prices.
Since then, crude oil prices have retraced by some 15%, after hitting a record $147 a barrel on July 15...
