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Stewart and Mark:
First, the leader is the Merc. They lead the Simex by a factor of almost 10 to 1
on many days.
Second, I agree with your categories in general, Stewart. I would also like to
see some distinction in the prices of commodities, however. For example, corn
and wheat can be tilled under in the US if they stay at today's prices. There's
no market here, and many needy nations cannot afford them because their home
currency prices US grains out of their reach.
I also would not underestimate the effect of certain flows like oil...Again,
these flows are more readable when they are re-calculated on a currency basis.
For example, oil rates are not particulary cheap to those countries that have
seen their currencies plummet on the Asian crisis. Maybe commodities should be
calcualted in a basket of currencies and the commodity groupl split to reflect
industrial commodities[oil, metals, building materials] and foodstuffs[grains
and others]?
Best,
Tim Morge
Stewart Taylor wrote:
>
> Long rates, short rates, equities indexes and commodities.
>
> I go to Yardeni's site once a week to look at a composite chart of the G-7
> long treasury yields. I have always thought that it provided an excellent
> big picture overview of global rate trends and would love to see one on a
> daily basis (if I wasn't such a cheap so and so). If you have the data it
> shouldn't be to hard to cobble something similar together. He does the
> same thing for short rates but I don't do anything more than glance.
> Stewart Taylor
> Taylor Fixed Income Outlook
> Voice: 501-219-9774
> Fax: 501-228-0963
> E-Mail: staylor@xxxxxxx
> Web Site: http://www.cei.net/~staylor/
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