Commodities are surging. Commodities haven’t been this sexy since the mid-2000s.
NEW YORK: It was mid-September when Lloyd Blankfein, the former chief executive officer of Goldman Sachs Group Inc, suggested investing in commodities was “not a bad thing.”
Prices for most materials were just off pandemic lows and the asset class was still very much the ugly duckling.
Fast forward four months and commodities are surging.
Goldman Sachs, Bank of America Corp and Ospraie Management LLC have all called for a bull market as stimulus kicks in and vaccines help the world emerge from the coronavirus crisis. JPMorgan Chase & Co has also joined the chorus, advising clients to boost their exposure to materials while reducing investments in bonds.
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