Proof: The Speculators Are Back Into Commodities

Financial speculators are barrelling back into commodities. Below we see that the net-long position for non-commercial commodity market participants has jumped substantially. In addition, commodity index investment has seen fund flow go very positive in the second quarter. The herd has returned to the global reflation trade.

From Citi’s latest “Commodity Heap” report from analyst Alan Heap:

And:

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