Hard/Soft/No Landing Pricing Across Asset Classes Investors may allocate cash to bonds in hard landing, a combination of stocks and credit in soft landing, commodities in no landing. Image: BofA Global Investment Strategy
U.S. Government Bond vs. Commodity Returns Will commodities continue to outperform government bonds? Image: BofA Global Investment Strategy
Returns – Rising Nominal Rates and Falling S&P 500 Should investors continue to favor commodities? Image: Goldman Sachs Global Investment Research
Bitcoin Correlations with Asset Classes Bitcoin is positively correlated with equities and commodities. Should more investors add Bitcoin to their portfolio? Image: BofA Global Research
Annualized Performance of Various Asset Classes During the 1970s Gold and commodities tend to do well during periods of high inflation. Image: BofA Global Research
Valuation – S&P GSCI Commodity Index/S&P 500 Index Commodities remain undervalued relative to equities. Is it time to buy commodities? Image: Morgan Stanley Wealth Management
Commodity Spot Index Are commodities poised for a new bull market as a reflation play? Image: Bloomberg
S&P 500 vs. Commodity Research Bureau Index Commodities relative to stocks remain cheap, but is it time to buy? Image: Fidelity Investments
Estimated Contraction in Global Oil Demand by Product Global oil demand is expected to see its first quarterly contraction in over a decade, due to the coronavirus pandemic. Image: J.P. Morgan Commodities Research
Average Price Performance of Gold, Oil and Base Metals during Four Military Conflicts This chart shows the average price performance of gold, oil and base metals during the following military conflicts: 1980 Iran-Iraq War, 1990 Gulf War, 2003 Iraq War, 2011 NATO-led military intervention in Libya. Image: J.P. Morgan Commodities Research
Money Supply and Inflation Aging is inflationary when caused by a decline in birth rate, and deflationary when caused by an increase in longevity. If the money supply grows faster than real output, then it causes inflation. And if there is a structural bottom for commodities and inflation, value could outperform growth. Image: Fidelity Investments