Auspice Broad Commodity Excess Return Index (ABCERI)
The ABCERI lost 3.79% in May as Ag commodities pulled back. This correction was not universal as Energies moved higher. This is consistent with recent price movement as the commodity sector continues to build a base for possible recovery after falling out of favour for a number of years. Equities and Fixed Income markets moved higher in May and we continue to watch asset class rotation play out.