EuroDollars: the Biggest Market You’ve Never Heard of
What’s the most common futures market in nearly every managed futures portfolio we run across? The Eurodollar. While many mistake it as the official currency of the European Union, it actually refers to the US dollars deposited abroad. EuroDollar futures contracts are derivatives on the interest rate paid on those deposits. So why are million’s of these contracts being traded a day?
Goldfinger, Gold iPhone, and Gold Backwardation!
Our society hasn’t lost its obsession with that shinny medal just yet. First Apple is in talks of a gold iPhone, and a great piece on Slate’s Blog MoneyBox talking about the political and economic undertones on the James Bond Classic: Goldfinger. Was this a classic Bond film with the ejector seat car, or a movie about the Bretton-Woods system of semi-fixed exchange rates restricting British citizens from buying and storing large quantities of gold. The piece draws some eerie parallels with today, noting that Labour Party Prime Minister Harold Wilson.
The “Bond King” coming to Managed Futures
Look out Managed Futures! Here comes the Bond King! Bill Gross is buying the drawdown in managed futures…well sort of. Pimco has filed papers with the SEC to open a Managed Futures Mutual Fund. While we are never too found of these mutual funds, it’s a little early to pass judgment. So what’s Bill Gross’s reason to invest in Managed Futures right now?
The $48 Million Platinum Payout
It’s not every day you see a Forbes 400 Member settle a class action suit surrounding market manipulation – but that was exactly what’s happened. Futures Industry ‘Hall of Famer’ Louis Moore Bacon’s firm Moore Capital has agreed to pay $48 Million to settle allegations of manipulating Platinum and Palladium prices. There’s no knowing what really happened, either way if you traded Platinum and Palladium why not submit your claim for part of it.
Finviz: We Love You, You’re Perfect, Now Change
Dear Finviz, Whenever we need a quick glimpse of the futures markets, we know we can count on you. But as we’ve mentioned, the futures side needs some work. For instance, you’re missing some of the most heavily traded contracts in the world, by only displaying two Bond futures markets. If we can be so bold – we’ve come up with an alternative layout which would do just the thing. What do you think about adding these new markets and adjusting the layout! This user, for one – would be an even more loyal fan!
Disclaimers
Managed futures, commodity trading, forex trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. You should not rely on any of the information as a substitute for the exercise of your own skill and judgment in making such a decision on the appropriateness of such investments.
The entries on this blog are intended to further subscribers understanding, education, and – at times – enjoyment of the world of alternative investments. Unless distinctly noted otherwise, the data and graphs included herein are intended to be mere examples and exhibits of the topic discussed, are for educational and illustrative purposes only, and do not represent trading in actual accounts. Opinions expressed are that of the author.
The mention of specific asset class performance (i.e. +3.2%, -4.6%) is based on the noted source index (i.e. Newedge CTA Index, S&P 500 Index, etc.), and investors should take care to understand that any index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history.
The performance data for various Commodity Trading Advisor (“CTA”) and Commodity Pools are compiled from various sources, including Barclay Hedge, RCM’s own estimates of performance based on account managed by advisors on its books, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor’s disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor’s track record.
The mention of general asset class performance (i.e. managed futures did well, stocks were down, bonds were up) is based on RCM’s direct experience in those asset classes, estimates of performance of dozens of CTAs followed by RCM, and averaging of various indices designed to track said asset classes.
The mention of market based performance (i.e. Corn was up 5% today) reflects all available information as of the time and date of the publication.
The owner of this blog, RCM Alternatives, may receive various forms of compensation from certain investment managers highlighted and/or mentioned within the blog, including but not limited to retaining: a portion of trade commissions, a portion of the fees charged to investors by the investment managers, a portion of the fees for operating a fund for the investment managers via affiliate Attain Portfolio Advisors, or via direct payment for marketing services.
Managed Futures Disclaimer:
Past Performance is Not Necessarily Indicative of Future Results. The regulations of the CFTC require that prospective clients of a managed futures program (CTA) receive a disclosure document when they are solicited to enter into an agreement whereby the CTA will direct or guide the client’s commodity interest trading and that certain risk factors be highlighted. The disclosure document contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA.
See the full terms of use and risk disclaimer here.
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