Commodities Post Strongest Gain Last Week

Broadly defined commodities rebounded last week, posting the strongest gain for the major asset classes.

By James Picerno

The iPath Bloomberg Commodity (DJP) popped 2.6% over the five trading days through Oct. 13. The rise marks the first weekly gain in four weeks, lifting the exchange-traded note to its highest close since April.

Nearly all corners of the major asset classes posted gains last week. The lone exception: junk bonds in the US via SPDR Bloomberg Barclays High Yield Bond (NYSEARCA:JNK). The ETF was unchanged on Friday vs. the week-earlier close.

For one-year results, foreign stock markets are in the lead. Vanguard FTSE Developed Markets (VEA) is up 24.5% on a total-return basis over the 12 months through Friday. The gain is fractionally ahead of the second-place performer in the one-year column: Vanguard FTSE Emerging Markets (NYSEARCA:VWO), which is currently posting a 24.4% total return.

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Meanwhile, commodities – despite last week’s gain – remain in last place for one-year changes through Friday. DJP is down slightly, dipping 0.4% vs. its year-earlier price.