Before 2006 the exponential rise in financial derivatives since the late 1970s had crowded out academic and practitioner interest in the commodity futures markets. There were surprisingly few long-term studies on commodity futures returns analysing these markets in an original way.
Notable exceptions were Greer1 and Bodie and Rosansky.2 These authors discussed the equity-like returns and inflation-hedging properties of investments in baskets of commodity futures contracts.
In 2006 fresh academic p
The week on Risk.net, July 14–20, 2017Receive this by email