Book: Commodities: Markets, Performance, and Strategies
Editors: H. Kent Baker, Greg Filbeck, Jeffrey H. Harris
ISBN: 9780190656010
Chapter 25: Financialization of Commodity Markets (Kyle J. Putnam & Ramesh Adhikari)
Book: Commodities: Markets, Performance, and Strategies
Editors: H. Kent Baker, Greg Filbeck, Jeffrey H. Harris
ISBN: 9780190656010
Chapter 23: High Frequency Trading of Commodities (Raymond P. H. Fishe & Aaron D. Smith)
Commodities: Markets, Performance, and Strategies
Editors: H. Kent Baker, Gregory Filbeck, Jeffrey H. Harris
ISBN: 9780190656010
Kamal Smimou asks a practical question: if you trade emerging markets, do U.S.-listed commodity futures tell you anything useful? His answer, backed by panel regressions across 22 countries, is yes. But the link depends on which commodity and which region.
Commodities: Markets, Performance, and Strategies
Editors: H. Kent Baker, Gregory Filbeck, Jeffrey H. Harris
ISBN: 9780190656010
After 2008, everyone wanted to know if a shock in oil would spread to corn, copper, or gold. Frankie Chau and Rataporn Deesomsak build a tool to measure exactly that: the Commodity Volatility Spillover Index (CVSI).
Commodities: Markets, Performance, and Strategies | Editors: H. Kent Baker, Greg Filbeck, Jeffrey H. Harris | ISBN: 9780190656010
Chapter 8 opens the agricultural section of the book, and it starts with a fact that surprised me: agriculture is tiny as a share of GDP in rich countries (about 1.3% in the U.S.) but massive in frontier economies, where it can be 40% or more of national output. Sierra Leone, Chad, Ethiopia. The U.S. still runs a trade surplus in farm goods, exporting billions more than it imports each year. So the sector matters globally even when it looks small on a developed-country balance sheet.
Florian Ielpo’s Chapter 2 is the economics backbone of the book. If you’ve ever wondered why your commodity fund lost money when spot oil went up, or why backwardation matters for futures returns, this chapter explains it. Ielpo uses oil, copper, gold, and corn as stand-ins for energy, industrial metals, precious metals, and agriculture.
Chapter 1 of Commodities: Markets, Performance, and Strategies is the road map. Baker, Filbeck, and Harris lay out what the full book covers and why commodities still belong in the conversation about portfolio construction. It’s the kind of chapter you skim before deciding which later sections to read first.