Download or read book The Inventory Effect in Commodity Futures Markets written by Anthony F. Herbst and published by . This book was released on 1987 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Inventory Effect in Commodity Futures Markets written by Donald Lien and published by . This book was released on 1987 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Momentum Investing in Commodity Futures Market written by Marie-Claude Guérin and published by . This book was released on 2009 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Commodity Futures and Financial Markets written by L. Phlips and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: Louis Phlips The stabilisation of primary commodity prices, and the related issue of the stabilisation of export earnings of developing countries, have traditionally been studied without reference to the futures markets (that exist or could exist) for these commodities. These futures markets have in turn been s~udied in isolation. The same is true for the new developments on financial markets. Over the last few years, in particular sine the 1985 tin crisis and the October 1987 stock exchange crisis, it has become evident that there are inter actions between commodity, futures, and financial markets and that these inter actions are very important. The more so as trade on futures and financial markets has shown a spectacular increase. This volume brings together a number of recent and unpublished papers on these interactions by leading specialists (and their students). A first set of papers examines how the use of futures markets could help stabilising export earnings of developing countries and how this compares to the rather unsuccessful UNCTAD type interventions via buffer stocks, pegged prices and cartels. A second set of papers faces the fact, largely ignored in the literature, that commodity prices are determined in foreign currencies, with the result that developing countries suffer from the volatility of exchange rates of these currencies (even in cases where commodity prices are relatively stable). Financial markets are thus explicitly linked to futures and commodity markets.
Download or read book A Study of the Effects on the Economy of Trading in Futures and Options written by and published by . This book was released on 1985 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic News Effects in Commodity Futures and German Stock and Bond Futures Markets written by He Huang and published by BoD – Books on Demand. This book was released on 2010 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: A well-known concept in modern capital market theory is that only systematic risk factors affect security prices. Macroeconomic announcements are among the most important news for financial markets because the state of the economy is a prime candidate for such a source of non-diversifiable risk. This book investigates the effects of US macroeconomic news on three financial markets that have received less attention in the literature so far. The markets of interest are the commodity futures market, the German stock index futures market, and the German bond futures market. I investigate not only price effects, but also liquidity effects as well as the channels of cross-border information flow. I find that commodity markets as well as international stock and bond markets are likewise affected by the release of US macroeconomic news. The strength of the commodity price response depends on the state of the economy and news about the US economy is more important for German stock markets than domestic economic news. For an investor in any of these markets, this book provides valuable information on how to adjust his trading strategies around the release of macroeconomic news. Moreover, my findings contribute to the understanding of cross-border information flow. First, I find that both domestic and foreign economic news induce significant price and liquidity effects. Second, I find that there are two important channels of information transmission for foreign news: the direct response to the news and the indirect response to the foreign response to the news.
Download or read book Commodities written by H. Kent Baker and published by Oxford University Press. This book was released on 2018-03-06 with total page 681 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodities: Markets, Performance, and Strategies provides a comprehensive view of commodity markets by describing and analyzing historical commodity performance, vehicles for investing in commodities, portfolio strategies, and current topics. It begins with the basics of commodity markets and various investment vehicles. The book then highlights the unique risk and return profiles of commodity investments, along with the dangers from mismanaged risk practices. The book also provides important insights into recent developments, including high frequency trading, financialization, and the emergence of virtual currencies as commodities. Readers of Commodities: Markets, Performance, and Strategies can gain an in-depth understanding about the multiple dimensions of commodity investing from experts from around the world. Commodity markets can be accessed with products that create unique risk and return dynamics for investors worldwide. The authors provide insights in a range of areas, from the economics of supply and demand for individual physical commodities through the financial products used to gain exposure to commodities. The book balances useful practical advice on commodity exposure while exposing the reader to various pitfalls inherent in these markets. Readers interested in a basic understanding will benefit as will those looking for more in-depth presentations of specific areas within commodity markets. Overall, Commodities: Markets, Performance, and Strategies provides a fresh look at the myriad dimensions of investing in these globally important markets.
Download or read book Commodities written by M. A. H. Dempster and published by CRC Press. This book was released on 2015-11-05 with total page 725 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since a major source of income for many countries comes from exporting commodities, price discovery and information transmission between commodity futures markets are key issues for continued economic development.This book covers the fundamental theory of and derivatives pricing for major commodity markets as well as the interaction between commodi
Download or read book Economics of Futures Trading For Commercial and Personal Profit written by Thomas A. Hieronymus and published by Ceres Books LLC. This book was released on 2023-08-07 with total page 543 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of the Award for Publication of Enduring Quality from the American Agricultural Economics Association The classic and must-have book on the commodity futures market For decades, Economics of Futures Trading has been known as “the bible” of the commodity futures market. This updated edition provides the foundation for everything you need to know in commodity basics and the economics of futures trading. In this comprehensive and essential guide, Professor Hieronymus reveals secrets and wisdom attained from decades of hands-on experience and research in the field. His timeless insight provides the fundamentals necessary for trading in pursuit of profits–whether you are new to the world of commodity trading or experienced. Dr. Hieronymus’ witty and engaging writing ushers you into the world of trading so you can attain success in these ever-growing markets. The underlying principles presented in this classic remain unchanged, and your understanding of all the complex concepts in futures trading will be enhanced, such as: Operation and performance of the commodity market. Hedging and speculation. Historical developments. And much more. This remains the ultimate guide and go-to resource for anyone interested in the operation of commodity markets. Set yourself up for success as you navigate the complexity of the market by first gleaning from a gold mine of insight offered in this easy-to-digest classic.
Download or read book How Commodity Price Curves and Inventories React to a Short Run Scarcity Shock written by Mr.Shaun K. Roache and published by International Monetary Fund. This book was released on 2010-09-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does a commodity market adjust to a temporary scarcity shock which causes a shift in the slope of the futures price curve? We find long-run relationships between spot and futures prices, inventories and interest rates, which means that such shocks lead to an adjustment back towards a stable equilibrium. We find evidence that the adjustment is somewhat consistent with well-known theoretical models, such as Pindyck (2001); in other words, spot prices rise and then fall, while inventories are used to absorb the shock. Importantly, the pace and nature of the adjustment depends upon whether inventories were initially high or low, which introduces significant nonlinearities into the adjustment process.
Download or read book Understanding Futures Markets written by Robert Kolb and published by Wiley-Blackwell. This book was released on 2006-04-10 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Now in its sixth edition, Understanding Futures Markets by Robert Kolb (University of Colorado) and James Overdahl (Chief Economist of the Commodity Futures Trading Commission) provides the most comprehensive coverage of futures markets available. This new edition features updated and enhanced discussions on: event markets, proposition markets, weather futures, and macro futures globalization of futures markets electronic trading platforms and the rise of electronic trading manipulation of futures markets and methods of deterrence The Commodity Futures Modernization Act of 2000 and its effect on market regulation hedging in a corporate environment uses of futures by government entities energy futures products recent fiascos involving energy futures and related derivatives single stock futures products and narrow-based stock index futures accounting and taxation features of futures markets. Clearly written and accessible, this is the authoritative text for students and practitioners alike looking for an in-depth treatment of futures markets.
Download or read book The Dynamics of Commodity Spot and Futures Markets written by Robert S. Pindyck and published by . This book was released on 2001 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: I discuss the short-run dynamics of commodity prices, production, and inventories, as well as the sources and effects of market volatility. I explain how prices, rates of production, and inventory levels are interrelated, and are determined via equilibrium in two interconnected markets: a cash market for spot purchases and sales of the commodity, and a market for storage. I show how equilibrium in these markets affects and is affected by changes in the level of price volatility. I also explain the role and behavior of commodity futures markets, and the relationship between spot pries, futures prices, and inventory behavior. I illustrate these ideas with data for the petroleum complex--crude oil, heating oil, and gasoline--over the past two decades.
Download or read book The Economics Law and Public Policy of Market Power Manipulation written by S. Craig Pirrong and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 269 pages. Available in PDF, EPUB and Kindle. Book excerpt: Deterrence of market manipulation is central to the entire regulatory and legal framework governing the operation of American commodity futures markets. However, despite all of the regulatory, scholarly, and legal scrutiny of market manipulation, the subject is widely misunderstood. Federal commodity and securities laws prohibit manipulation, but do not define it. Scholarly research has failed to analyze adequately the causes or effects of manipulation, and the relevant judicial decisions are confused, confusing, and contradictory. The aim of this book is to illuminate the process of market manipulation by presenting a rigorous economic analysis of this phenomenon, including the conditions that facilitate it and its effects on market users and others. The conclusions of this analysis are used to examine critically some legal and regulatory anti-manipulation policies. The Economics, Law and Public Policy of Market Power Manipulation concludes with a set of robust and realistic tests that regulators and jurists can apply to detect and deter manipulation.
Download or read book Planetary Effects on Stock Market and Commodity Prices written by James M. Langham and published by . This book was released on 1979-09-01 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financialization of Commodity written by Mohammad Isleimeyyeh and published by . This book was released on 2017 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation studies the role of financial investors on commodity markets, which is referred as financialization of commodity. The content of the dissertation splits to theoretical and empirical work. The implemented researches are motivated by the participation of investors, who own stock portfolios, in commodity futures markets for diversification reasons. Furthermore, that diversification is likely achieved by investing in a basket of commodities. The first chapter investigates, theoretically, the interaction between commodity and stock markets. The second chapter studies, empirically, the impact of financial investors on the commodities futures risk premium. It focuses on studying three commodities: crude oil (WTI), heating oil and natural gas. The third chapter examines, theoretically, the integration between two commodity markets. We clarify the hesitating of the previous literature in finding evidences of the impact of financialization. We confirm the influential power of investment in commodity market. However, that depends on the financial investors positions taken in the futures market. Generally, financialization increases the spot prices, the futures prices and inventory levels. We find, also, that investors are a transmission channel between commodity markets. Their effects spread out restricted to the cross commodity markets correlation. Finally, stock market returns became effective determinant of the futures risk premium after 2008 financial crisis. Also, the effect of the stock returns indifferent between short and long maturities.
Download or read book Commodity Futures Trading and International Market Stabilization written by David Atsé and published by . This book was released on 1986 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Stabilizing Speculative Commodity Markets written by S. Ghosh and published by Oxford University Press, USA. This book was released on 1987 with total page 466 pages. Available in PDF, EPUB and Kindle. Book excerpt: After briefly reviewing the problems caused by commodity price instability, the authors develop a mathematical model for commodity markets. The implications of this model for intervention and the welfare effects are then considered. A fully developed model of the world copper market is usedto investigate alternative buffer stock intervention rules in order to assess the scope and limitations of such stabilization strategies.
