Future high yield bond returns will likely be more muted — and depend more on improving fundamentals
than commodity prices.
When we combine the on - farm observations with others beyond the farm gate, like northward - moving ranges of songbird species and shifts in important pollinators, a pattern begins to emerge that is steadier
than commodity prices (Chen et al. 2011).
Since most of these companies book their revenue on volume rather
than commodity prices, the drop in oil prices hasn't been catastrophic.
Not always true, if the prices of extraction / production rise faster
than the commodity price, as it has been with gold producers, the stocks will be a bad investment.
These stress tests indicate that climate factors have a larger effect on economic capital
than commodity price volatility.
Not exact matches
Since that report came out, we can count another upside to the «China syndrome»: Canada weathered the recession better
than just about every other developed economy, thanks in part to a quick recovery in emerging economies and thus in
commodity prices.
CALGARY —
Commodity prices are tanking and they're bringing Canadian markets down with them, but experts say some provinces will be feeling the pinch more
than others.
«The
prices we've been paying for coffee have been substantially higher
than the
commodities market for years,» since craft wholesalers typically source coffee directly from farmers and co-operatives.
The reason why GDI started trending above GDP is the same reason wages have been growing faster
than productivity: the surge of
commodity prices, and of oil
prices in particular, since 2002.
After a five - year bear market in most metal
commodities, miners finally had a bull run in 2016, with some stocks»
prices more
than doubling off their lows.
But Schembri's speech showed that the Bank of Canada remains more concerned about the 18 % plunge in Canadian
commodity prices this year
than the 10 % jump in the average national resale
price of homes since 2013.
Darren Woods, who has worked at Exxon for more
than 20 years, has helped expand the refining business at a time when the company's core exploration and production business has been rocked by low
commodity prices.
Freeport - McMoRan (FCX) has suffered more pain from collapsing
commodity prices than most other companies.
«They helped cushion the blow on the economy from the
commodity -
price shock, which is of course better
than reacting after the fact,» Poloz said Wednesday.
As with all
commodities, palladium
prices depend on supply and demand - if there is more supply
than demand,
prices will fall.
While coal experiences more ups and downs
than other
commodities — the weather can have an effect on
prices — the black rock has been in use for centuries.
«The economy here is much more diversified
than it was, say, 20 years ago and not as vulnerable to fluctuating
commodity prices,» explains Michael Kehoe of Fairfield Commercial Real Estate.
Commodity prices also are weaker
than the central bank predicted in July.
As I've said that the 10 yr bond crossed over 3.0 % means the US$ will be going to be weaker and weaker further and further by the 1st half of 2020 yr:) Also, the
commodity price esp WTI will be going up to the level of 70 - 80 $ no later
than 1st half of May (at the earliest), or no later
than 2nd week of June, and then it will be in the range to the end of Trump Era:)
Overall, inflation expectations are marginally higher
than in the winter survey: higher
commodity prices and expected inflationary pressures in the United States are viewed as contributing to domestic inflation over the next two years.
An income profile for the typical U.S. wage earner shows the degree to which the cost of living now reflects FIRE sector costs more
than prices for
commodities produced by labor.
The balance of the appreciation reflects forces other
than U.S. - dollar weakness and
commodity prices.
However, proving that
price manipulation occurred can be challenging in the
commodities markets, said Professor Verstein, so the CFTC sometimes settles cases rather
than letting them play out in the courts.
So it's better to think about changes in
commodity prices in terms of the terms of trade
than on the exchange rate.
The concerted weakening in
commodity prices already suggests a global force to this economic downturn, while further weakness in the U.S. dollar would suggest that demand for U.S. goods and securities was softening even more sharply
than internationally.
The surge in
commodity prices increased the terms of trade — the ratio of the
price of exported goods to the
price of imported goods — in both economies, but the effect in Australia was far stronger
than what we saw:
Although the adjustment has been difficult, it has occurred over a longer period of time
than the boom in
commodity prices and, in general, Canada has not lost ground relative to other advanced economies.
Despite slumping
commodities prices affecting its oil, gas, and mining businesses, FLR still managed a 21 % ROIC in 2015 and finished the year with a larger backlog
than it had at the end of 2014.
Law of One
Price - The law of one price relates to the theory that any commodity, asset or security will have the same price in more than one exch
Price - The law of one
price relates to the theory that any commodity, asset or security will have the same price in more than one exch
price relates to the theory that any
commodity, asset or security will have the same
price in more than one exch
price in more
than one exchange.
And on the way down — even as
commodity prices fell sharply and mining investment declined — growth in GDP, employment and wages was only a little weaker
than average.
But more is going on
than just what is seen in the «Atlantic» group of North America and Western Europe — and the
price of
commodities is the proof of that proposition.
Compared with previous episodes of booming
commodity prices, a floating currency, a sound but flexible medium - term framework for monetary policy and a flexible labour market mean we are doing much better this time
than in the mid 1970s or early 1950s.
The only event that will save Glencore is a massive helicopter drop of more printed money and I doubt even that will move the needle on
commodity prices (except gold and silver, of course) other
than a brief knee - jerk bounce.
Outside of
commodity prices, most global indicators and surveys are still in expansion territory, with services sectors generally doing better
than manufacturing ones.
Future
commodity price levels might certainly be different, on average, in the future
than they were in the past, but we should not jump to the conclusion that the long - term boom - bust dynamics of
commodities have vanished as a result.
Probably one of the surprises in the coming year will be fresh dollar weakness combined with falling
commodity prices (i.e. global
commodity prices falling faster
than the value of the dollar itself).
There are many that matter; but in Canada's case, as research at the Bank of Canada has shown for more
than 20 years, the dominant explanation is global
commodity prices.
On the downside, weakness in emerging markets such as Brazil and China could turn out to be more pronounced
than we expect, or
commodity prices could fall further as new supply weighs on
prices.
Interestingly, just as in every other
commodity market, the greatest defense for venture capitalists turns out to be brand: firms like Benchmark, Sequoia, or Andreessen Horowitz can buy into firms at superior
prices because it matters to the startup to have them on their cap table.5 Moreover, Andreessen Horowitz in particular has been very open about their goal to offer startups far more
than money, including dedicated recruiting teams, marketing teams, and probably most usefully an active business development team.
Gold has fared well compared to the
price of the U.S. dollar, better
than any other hard
commodity.
That time frame, more
than two decades long, actually includes many periods of extreme volatility in
commodity pricing, yet Enbridge kept right on paying and increasing its dividend.
Regional Report Latin America Colombia, Chile, Mexico and Peru are handling the drop in
commodities prices better
than the rest of Latin America.
If growth in America is accelerating, which it seems to be, and any remaining slack in the labor markets is disappearing — and wages start going up, as do
commodity prices — then it is not an unreasonable possibility that inflation could go higher
than people might expect.
Conditions in the economy are tighter now
than in the aftermath of the Asian crisis, the deflationary impulse from Asian producers is no longer present and world
commodity prices are rising.
Chinese concerns have used
commodities as collateral so the run - up in
prices may be more financial engineering
than actual usage in an effort to support its collateral.
That's a much better result
than a lot of other energy companies, where investors have saw decimated fundamentals in the wake of cratering energy
commodity prices.
Upstream
price pressures have also been boosted by the rise in oil
prices, as well as the depreciation of the exchange rate and the increase in world
commodity prices; producer input and output
prices have increased more sharply over the past six months
than they have since the early 1990s.
I time the market in the sense that when I find a
commodity where the selling
price is less
than the cost of production, in other words, an industry that's in liquidation, I know that either the material becomes unavailable or the
price goes up and the longer the situation lasts, the more dramatic the response will be.
We regard the greater stability in
commodity prices, along with a lessening of volatility in financial markets, as welcome, and believe it should provide a more stable platform for the global economy, where growth remains acceptable, if lower
than desirable.
In SDR terms, the Bank's index of
commodity prices increased again in the June quarter, to be about 7 per cent higher
than a year earlier (Graph 27).