NEW YORK, April 28, 2020 /PRNewswire/ -- Credit Suisse AG ("Credit Suisse") announced today that it has provided notice to accelerate its 3x Inverse Crude Oil ETNs ("DWTIF") and 3x Long Crude Oil ETNs ("UWTIF") (together, the "ETNs"), each of which was previously delisted from the NYSE Arca in 2016.
The ETNs were originally listed on the NYSE Arca, but were delisted in 2016. Concurrent with such delisting, Credit Suisse also suspended further issuances of the ETNs. Following the delisting from the NYSE Arca, the ETNs traded on an over-the-counter basis.
As described in the related pricing supplement for the ETNs (the "Pricing Supplement"), Credit Suisse, as the issuer of the ETNs, may, at its option, accelerate all issued and outstanding ETNs on any business day after the inception date. Credit Suisse delivered notice of the acceleration of the ETNs via the Depository Trust Company on April 28, 2020. The acceleration date is expected to be May 11, 2020.
On April 2, 2020, with respect to DWTIF, and on April 21, 2020, with respect to UWTIF, Credit Suisse announced that the intraday indicative value of the ETNs on such respective dates was equal to or less than $0. As disclosed in the Pricing Supplement, because the intraday indicative value of DWTIF and UWTIF was equal to or less than $0, their respective closing indicative value on all future days is $0. Accordingly, because under the terms of the ETNs the amount of any payment due to holders at maturity, upon early redemption or upon acceleration is determined by reference to the closing indicative value of the ETNs, holders of DWTIF and UWTIF will not receive any payment on the ETNs in connection with this acceleration.
None of the other ETNs offered by Credit Suisse are affected by this announcement.
Title of ETN | Ticker Symbol | ETN CUSIP |
VelocityShares™ 3x Inverse Crude Oil ETNs linked | DWTIF | 22542D548 |
VelocityShares™ 3x Long Crude Oil ETNs linked to | UWTIF | 22539T316 |
Press Contacts
Karina Byrne, Credit Suisse AG, telephone +1 212 538 8361, karina.byrne@credit-suisse.com
Credit Suisse ETNs
Telephone +1 800 320 1225, ETN.Desk@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 48,500 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
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SOURCE Credit Suisse AG
NEW YORK, April 21, 2020 /PRNewswire/ -- Credit Suisse AG ("Credit Suisse") announced today that the intraday indicative value of its 3x Long Crude Oil ETNs (the "ETNs") was equal to or less than zero on April 21, 2020.
On April 21, 2020 the intraday indicative value of the ETNs was equal to or less than $0. As disclosed in the pricing supplement relating to the ETNs, because the intraday indicative value was equal to or less than $0, the closing indicative value of the ETNs on April 21, 2020, and on all future days, will be $0. Accordingly, because the amount of any payment due to holders at maturity, upon early redemption or upon acceleration is determined by reference to the closing indicative value of the ETNs, holders of the ETNs will not receive any payment on the ETNs.
Because the Closing Indicative Value of the ETNs will be $0 on April 21, 2020 and on all future days, investors who buy the ETNs at any time at any price above $0 will likely suffer a complete loss of their investment.
None of the other ETNs offered by Credit Suisse are affected by this announcement.
Title of ETN | Ticker Symbol | ETN CUSIP |
VelocityShares™ 3x Long Crude Oil ETNs linked to | UWTIF | 22539T316 |
Press Contacts
Karina Byrne, Credit Suisse AG, telephone +1 212 538 8361, karina.byrne@credit-suisse.com
Credit Suisse ETNs
Telephone +1 800 320 1225, ETN.Desk@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,860 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
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SOURCE Credit Suisse AG
NEW YORK, Feb. 12, 2020 /PRNewswire/ -- Commodities generally declined after the spread of the novel coronavirus weighed on demand expectations for most Index constituents and renewed global growth uncertainty.
The Bloomberg Commodity Index Total Return was lower for the month, with 20 of 23 constituents posting losses.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "Though the US and China signed a partial trade agreement on January 15th, details surrounding when and how much trade will resume remain unclear. However, the concern of food security amid China's battle with African swine fever and a new outbreak of an avian influenza may accelerate China's imports of US soybeans, wheat and pork. Elsewhere, eastern Africa and parts of South East Asia face a growing locust problem, which may increase the region's demand for agricultural goods and animal protein from abroad as well. The coronavirus outbreak has weighed on growth and crude oil demand expectations as industrial and travel activity in China remain hindered. OPEC and its partners may decide to cut oil output further, though their impact depends on how much demand is lost as well as the details on the timing and types of any cuts. Meanwhile, the potential for supply shocks in the Middle East remains as the US continues to enforce its sanctions on Iran, and most of Libya's oil exports have been disrupted due to continued internal conflicts."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "The US Federal Reserve kept short-term interest rates steady after its latest meeting in January, noting "cautious optimism" towards global growth expectations. However, there remains uncertainty on how the coronavirus outbreak will impact the global economy and if it will limit progress made with the Phase One trade deal as China's economy is weakened and constrained. The People's Bank of China already announced plans to inject liquidity into its markets to make up for the economic shortfall caused by the contagious virus. These actions demonstrate how carefully central banks are monitoring their respective economies and their willingness to act to support long-term growth."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of combined experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of January 31, 2020, the Team managed approximately USD 6.4 billion in assets globally.
Press Contacts
Andre Rosenblatt, Corporate Communications, +1 (212) 325-8230, andre.rosenblatt@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,440 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2020, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
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SOURCE Credit Suisse AG
NEW YORK, Jan. 13, 2020 /PRNewswire/ -- The Bloomberg Commodity Index Total Return was higher for the month, with 20 of 23 constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "December brought about major trade developments as the US and China announced plans to sign a Phase One trade deal on January 15th, though details of the agreement have yet to be released. Given the length of the trade war, it may take time for US suppliers to reestablish supply chains to China. Lower trade barriers may improve global growth forecasts while also supporting commodity demand. Meanwhile, new international maritime regulations will require the shipping industry to burn more expensive, cleaner fuels or to install new equipment to reduce pollutant emissions from existing fuel grades. These changes have the potential to alter the supply/demand balance for various refined products. Escalating geopolitical tensions in the Middle East also has the potential to shock the energy complex. The rapid escalation of tensions between the US and Iran may put oil infrastructure of US allies in the region at risk, including key oil shipping channels as well as production and refining facilities in Iraq or elsewhere in the Middle East. "
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "In macro-economic related news, the Chinese economy showed signs of improvement during the month, highlighted by larger-then-expected, year-over-year increases in industrial production and retail sales for November. However, economic readings in the US were less supportive of an improved growth outlook as US jobless claims and key indicators of the US manufacturing sector underperformed expectations. Further progress on trade discussions between the two countries may lend support to improved growth forecasts. Central banks of developed countries seem in no rush to tighten amid mixed economic signals as well as rising geopolitical risk."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of combined experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of December 31, 2019, the Team managed approximately USD 6.4 billion in assets globally.
Press Contacts
Andre Rosenblatt, Corporate Communications, +1 (212) 325-8230, andre.rosenblatt@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,440 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2020, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
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SOURCE Credit Suisse AG
NEW YORK, July 11, 2019 /PRNewswire/ -- Commodities rose as increasing geopolitical risks and dovish comments from central banks supported precious metals and energy prices.
The Bloomberg Commodity Index Total Return increased for the month, with 16 out of 23 constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "The US and China's temporary trade truce has caused market participants to become cautiously optimistic that a near-term trade deal may be reached. Reduced barriers to trade would be beneficial to commodity demand as companies are increasingly delaying capital investments amid the uncertainty. OPEC+ also announced that they will extend their crude oil production cut agreement through year end and potentially into the first quarter of 2020. How strictly all participants will be at adhering to the agreement remains a concern as some nations, such as Nigeria, face growing political and financial constraints. So far, members of the OPEC+ agreement have exemplified their commitment to supporting crude oil prices. However, the biggest risk to the agreement's effectiveness rests with US shale producers whom may grow production further. Beyond policy risk, heavy rainfall in the US Midwest forced farmers to plant a higher percentage of their fields at the same time, increasing the concentration risk to plantings if additional adverse weather conditions appear. Meanwhile, a heatwave put European wheat crops at risk. In addition, a delayed monsoon season in India, a country which tends to shift between being a net consumer and a net exporter of sugar, may also impact sugarcane production. If dry conditions persist, then there may be less sugar supplies available for trade."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "Economic indicators seem to be losing some momentum, adding to the evidence that the ongoing US-China trade war has impacted growth expectations broadly. In the US, unemployment remained at 3.6% in May. However, the US PMI reading weakened in May. The Eurozone's reading also contracted while China's remained flat as exports fell. In response to these data points, central banks prepared to potentially take action. The Fed announced it was prepared to cut short-term interest rates, with two to three rate hikes priced in this year as of the end of June. ECB President Mario Draghi announced the central bank will consider cutting interest rates in the near future in an effort to counteract an economic slowdown. China may also implement more stimulus measures in an attempt to reduce the pace of the weakening following special bond issues released earlier in June. As central banks continue to adjust policies to accommodate growth in the latter stages of an expansionary cycle or even in early contractionary periods, the appeal of commodities as an asset class is increased as a business cycle diversifier."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of combined experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of June 30, 2019, the Team managed approximately USD 6.9 billion in assets globally.
Press Contacts
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Andre Rosenblatt, Corporate Communications, +1 (212) 325-8230, andre.rosenblatt@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 46'200 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2019, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
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SOURCE Credit Suisse AG
NEW YORK, June 11, 2019 /PRNewswire/ -- Commodities decreased as ongoing trade risks between the US and China dampened demand expectations for energy, base metals and livestock commodities.
The Bloomberg Commodity Index Total Return declined for the month, with 16 out of 23 constituents posting losses.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "The US and China may resume trade talks at the upcoming Group of 20 Summit in Japan as both administrations signaled that they would prefer a resolution rather than continued strained relations. A loosening of trade tensions could increase the demand for base metals and agricultural commodities. In the meantime, grains have been impacted by extreme weather events in the US Grain Belt and Europe's Black Sea region. If bad crop weather persists, then wheat and corn crop yields for the season may be further reduced, potentially ending the trend of multi-year bumper crops. In addition, growing conflict between Iran and the US may increase crude oil supply risks in the Middle East. Further escalation could result in further production disruptions and reduced export capabilities out of the Persian Gulf. Declining crude prices and increasing US inventories may also encourage OPEC and its partners to extend their crude oil production cut agreement longer than they otherwise would."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "US economic data have grown more mixed as of recent. The US unemployment rate dropped to 3.6% in April, and US inflation in April rose slightly but remains well below US Federal Reserve (Fed) targets. However, softening US factory activity in April showed that the US economy is not immune to cooling growth elsewhere. As a global economic growth slowdown or recession now appears more likely, central banks seem to be suggesting they are prepared to shift back to easier monetary policies. Markets are now pricing in that the Fed will be lowering the Fed Funds rate within the next three months, after pricing in hikes as recently as November of 2018, which is a noticeable shift in guidance. Central banks continue to be very flexible in their policy–making as they adapt to the changing economic landscape. Their actions may help to forestall any dramatic weakening in the global economy. At the same time, they appear more willing to potentially let the economy and inflation run hotter for longer on the upside, which would be beneficial to commodity prices."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of combined experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of May 31, 2019, the Team managed approximately USD 6.7 billion in assets globally.
Press Contacts
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Andre Rosenblatt, Corporate Communications, +1 (212) 325-8230, andre.rosenblatt@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 46'200 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2019, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
View original content to download multimedia:http://www.prnewswire.com/news-releases/commodities-decreased-as-trade-risks-reduced-demand-expectations-300865234.html
SOURCE Credit Suisse AG
NEW YORK, May 9, 2019 /PRNewswire/ -- Commodities declined as beneficial weather increased supply expectations for crops and as the trade conflict between the US and China continued to weigh on base metals demand expectations.
The Bloomberg Commodity Index Total Return declined for the month, with 18 out of 23 constituents posting losses.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "Negotiations continued towards a trade agreement between the US and China as additional meetings between their delegations were announced near month end. Any near-term deal would be advantageous to various industries dependent on international market demand and may improve the global growth outlook, encouraging more demand for most commodities. In the meantime, the African swine fever outbreak in Asia has already forced China to purchase more US pork products to meet domestic demand. If conditions worsen, China may have to quickly ramp up US pork imports along with commodities used as feedstock. Elsewhere, the US announced it would allow the Iranian oil import waivers to expire in May. How Saudi Arabia and its allies react will be key in terms of how oil prices respond in the near term. After having increased production too quickly at the end of 2018, when sanctions were re-imposed on Iran, key parties will likely want to be more patient. However, they will also be under pressure to increase production should prices rise sharply."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "First quarter GDP readings for the US, European Union, and China surprised to the upside, though other economic indicators for all regions remained mixed. Within the US, markets are pricing in a benign inflation environment, running near 2% for the foreseeable future. The Fed has signaled it will maintain its patient stance before taking meaningful action, with the agency under significant pressure to keep monetary policy accommodative, though higher-than-expected inflation could force the Fed to change policy plans. China's manufacturing PMI fell in April, while better-than-expected Industrial Production data was largely attributed to looser credit standards and other stimulus measures enacted by the Chinese government earlier in the year. In the Eurozone, Germany faced a slowdown in its manufacturing sector while France's stimulus measures may have helped the pace of new business investments. Comments from the ECB indicated the potential for further weakness in the Eurozone's economy, though it highlighted the availability of other tools to attempt to support growth. Central banks appear to remain at the ready to enact more accommodative and nonconventional policies."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of combined experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of April 30, 2019, the Team managed approximately USD 7.1 billion in assets globally.
Press Contacts
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Andre Rosenblatt, Corporate Communications, +1 (212) 325-8230, andre.rosenblatt@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 46,200 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2019, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
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SOURCE Credit Suisse AG
NEW YORK, Feb. 12, 2019 /PRNewswire/ -- Commodities increased as OPEC+ reduced crude oil production and as demand expectations for industrial metals grew.
The Bloomberg Commodity Index Total Return increased for the month, with 21 out of 23 constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "At the end of 2018, OPEC and its allies agreed to cut output by approximately 1.2M bbls/day relative to October 2018 levels. So far, data for December 2018 suggests they are on their way to meeting their stated objective. As markets continue to monitor compliance to the agreement, ongoing geopolitical tensions may also play a role. US sanctions on Venezuela's state-owned oil company may potentially slow down the production of refined products in the US, as Texas and Louisiana refineries, which typically process heavier grades of crude from Venezuela, struggle to find alternative supplies. In addition, as US sanctions on Iran remain in place, various European nations have implemented a new trading mechanism, called the Instrument in Support of Trade Exchanges, to continue doing business with Iran. If the US deems this mechanism in violation of its sanctions, retaliatory punishments may be put in place. Any new trade barriers enacted by the US may weaken global growth prospects."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "There is currently concern in many global regions about potentially slowing growth. Although British Prime Minister Theresa May's separation plan was rejected in January, both the UK and Eurozone are heavily incentivized to find a resolution in order to avoid a hard landing. Following a large drop in the Eurozone's industrial production reading for November, the ECB noted that there are now more downside risks to its economy. In China, effects from ongoing US-China trade tensions continued to harm its economy as the National Bureau of Statistics Purchasing Managers' Index for January revealed that China's manufacturing activity contracted for a second straight month. In the US, the Fed has committed to maintaining a patient approach to future monetary tightening. Central banks globally continue to seem more focused on preventing headwinds from slowing down growth than they are concerned about higher levels of inflation. Any upside surprises to growth may also result in greater-than-expected inflation, which should be supportive of the commodities asset class given its historically high correlation to unexpected inflation."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of combined experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of January 31, 2019, the Team managed approximately USD 8.0 billion in assets globally.
Press Contacts
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Andre Rosenblatt, Corporate Communications, +1 (212) 325-8230, andre.rosenblatt@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 45'560 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2019, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
View original content to download multimedia:http://www.prnewswire.com/news-releases/commodities-rose-on-tightening-crude-oil-inventories-and-higher-demand-expectations-for-metals-300793808.html
SOURCE Credit Suisse AG
NEW YORK, Jan. 14, 2019 /PRNewswire/ -- Commodities decreased as a lower global growth outlook reduced the demand expectations for crude oil and base metals.
The Bloomberg Commodity Index Total Return decreased for the month, with 19 out of 22 constituents posting losses.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "After the Group of 20 meeting in Argentina, the US and China began a three-month break from enacting additional tariffs and to resume trade negotiations. If the two nations can make significant compromises in the coming months, then this may be supportive of global economic growth. 2019 may also bring new risks to crude oil supplies. Nigeria and Libya will hold major elections this year and the potential for civil unrest due to potential political transitions may disrupt oil production as it has in the past. In addition, output reductions from OPEC and its partners, including a reduction of oil exports to the US may alter the supply/demand balance. The market also awaits data to assess compliance by those countries who received Iranian oil import waivers from the US. If it is deemed that these countries failed to adhere to the stipulations surrounding the sanctions, then the US may further tighten restrictions around Iranian oil exports to these countries."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "As global growth expectations weakened over the past few months, central banks may implement additional policy measures in support of economic progression. Trade tensions with the US have pressured China's economy as its manufacturing activity contracted in December. In response, the Chinese government intends to enact more fiscal measures to support its housing and manufacturing industries. The ECB announced it will maintain its key interest rate below 0% at least through mid-2019 amid a slowing economy. And, the US Fed seemed to suggest it will follow a slower pace of rate hikes in 2019 in light of uncertainty regarding future global growth. However, US labor and wage data appear to remain strong. The cautious actions exhibited by central banks as the global economy shifts from monetary easing to a tightening cycle may be supportive of global economic activity as well as commodity demand."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of combined experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of December 31, 2018, the Team managed approximately USD 7.6 billion in assets globally.
Press Contacts
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Andre Rosenblatt, Corporate Communications, +1 (212) 325-8230, andre.rosenblatt@credit-suisse.com
Credit Suisse
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 45'560 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2019, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
View original content to download multimedia:http://www.prnewswire.com/news-releases/commodities-decreased-on-dampened-global-growth-expectations-300777037.html
SOURCE Credit Suisse AG
NEW YORK, Oct. 9, 2018 /PRNewswire/ -- Commodities rose in September amid Venezuelan crude oil production shortfalls and reduced Iran exports due to upcoming US sanctions, while the demand for crude oil and petroleum products remained strong.
The Bloomberg Commodity Index Total Return was higher for the month, with 14 out of 22 constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "As the deadline to resume sanctions on Iran approaches, oil exports out of the country have already been on the decline as buyers have begun securing supplies elsewhere. In addition, the political issues affecting Venezuela's oil industry are far from being resolved. However, the country received some funding from China, which may allow it to buy some additional time to keep production from falling even more rapidly. So far, Saudi Arabia and Russia have increased production to offset these losses. However, it is unclear how much additional production each can generate in the near-term without major capital expenditures. In addition, there are upcoming elections in Libya and Nigeria. Both nations have been growing their crude oil production over the past several months. Upcoming elections have the potential to lead to production disruptions and further test OPEC's available spare capacity constraints."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "By the end of September, the US, Mexico and Canada have all agreed to preliminary trade deals among each other, potentially supporting the demand for US agricultural products and livestock. Additional progress made in trade relations between the US and other trading partners may further improve demand expectations for commodities across the globe. However, the trade conflict between the US and China escalated after the US imposed a 10% tariff on an additional $200 billion worth of imported goods from China, effective September 24th. Both countries followed suit with promises of additional tariffs. Potentially as a result of the escalating trade war, the manufacturing PMI readings for both small and large Chinese firms fell in August. This has increased expectations that China may further enact stimulus measures to help soften the impact from the economic slowdown until the trade conflict with the US subsides. Meanwhile, the US economy continued to show strength as exemplified through strong manufacturing and consumer confidence data. As a result, the Fed raised rates in September and remained committed to continue raising interest rates to combat rising inflation. This environment of sustained global growth and rising inflation may create an opportunistic time to include commodities in a well-diversified portfolio."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 35 years of experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of September 30, 2018, the Team managed approximately USD 9.0 billion in assets globally.
Press Contact
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 45,430 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2018, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
View original content to download multimedia:http://www.prnewswire.com/news-releases/commodities-rose-on-tightening-global-crude-oil-supplies-300727624.html
SOURCE Credit Suisse AG
NEW YORK, Jan. 10, 2018 /PRNewswire/ -- Commodities gained in December as base metals and energy supplies decreased while demand expectations increased, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was positive for the month, with 13 out of 22 Index constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "With the help of increasing demand for oil, OPEC and its partners have slowly brought down global supplies closer to the five-year average. Their agreement, which potentially extends the cuts through the end of 2018, may rein in supplies further in the coming year. In 2018, markets will remain focused on compliance levels from the parties to the agreement. However, if crude prices continue to rise, this may enable smaller companies to grow production as well. Environmental controls implemented in Asia reduced production for most industrial metals throughout 2017 as increasing demand, due to improving global economic growth, outpaced refined supplies. Meanwhile, disruptive weather failed to materialize during key growing and harvesting seasons, allowing many agricultural commodities to remain oversupplied. The increasing demand for protein-rich foods globally should continue to shape what farmers choose to grow, such as more planted soybeans versus wheat in the US. In addition, US pork and beef production has increased significantly compared to years past to meet rising demand."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "Global growth continues to be strong, potentially increasing commodity demand and inflation. Earlier in the year, the Organization for Economic Cooperation and Development (OECD) predicted the GDPs of all 45 countries it monitors would grow in 2017, backed by low interest rates, lower unemployment and elevated consumer confidence. Some central banks, such as the US Federal Reserve (Fed) and the Bank of England, have already begun to tighten monetary policies, though largely accommodative stimulus measures remain for both and for the rest of the developed world. Additionally, China may relax some credit controls in 2018 if it believes that recent central bank liquidity restrictions to rein in some financial excesses also created too large of a reduction in growth."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 30 years of experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of December 31, 2017, the Team managed approximately USD 8.6 billion in assets globally.
Press Contact
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,720 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2018, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
View original content with multimedia:http://www.prnewswire.com/news-releases/commodities-gained-on-lower-supplies-300580619.html
SOURCE Credit Suisse AG
NEW YORK, Nov. 15, 2017 /PRNewswire/ -- Commodities gained in October on strengthening demand for most sectors, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was positive for the month, with 14 out of 22 Index constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "Numerous weather events have had significant economic impacts to various countries so far this year. These shocks impacted key commodity producing regions, and weather continues to have the potential to significantly affect the supply fundamentals of energy and agricultural commodities. Thus far, expectations are for a relatively weak La Niña effect over the Pacific Ocean to occur before year end. However, if that were to strengthen, it could disrupt production for some crops while increasing natural gas heating demand in other parts of the region. Despite multiple hurricanes causing severe flooding and some infrastructure damage, forcing some local economies to come to temporary standstills, US third quarter GDP came in higher-than-expected at 3%. Consumer confidence in the US economy rose in October, as the University of Michigan's Index of Consumer Sentiment reached its highest level since 2004. In addition, the unemployment rate fell to 4.2% in September. These positive economic indicators continue to provide support for a probable rate hike in December."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "In Europe, tensions escalated between Catalonia's regional government and the Spanish national government. However, the Eurozone's economic recovery continued into the beginning of the fourth quarter. After the European Central Bank's latest meeting held late in October, ECB President Draghi announced that it will begin to reduce the monthly bond purchasing amount by half beginning in 2018, though he also stated he would continue the program longer-than-expected, highlighting that the ECB will continue to divert from US policy by remaining more dovish. This divergence of global central bank policies creates additional uncertainty and the potential to increase currency volatility. However, even as the US and some other central banks begin to tighten, they remain incredibly accommodative by historical standards, while the world's major economies are growing in a coordinated fashion. The potential for inflation risk remains, highlighting the benefit of holding commodities as a valuable hedge against unexpected inflation."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 30 years of experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of October 31, 2017, the Team managed approximately USD 8.5 billion in assets globally.
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,720 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2017, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
Press Contact
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
View original content with multimedia:http://www.prnewswire.com/news-releases/commodities-gained-on-strengthening-demand-300556510.html
SOURCE Credit Suisse AG
NEW YORK, Aug. 14, 2017 /PRNewswire/ -- Commodities increased in July due to strong petroleum product demand and improved growth prospects from China, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was positive for the month, with 15 out of 22 Index constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "The expectations for OPEC's success to bring down global inventories with output cuts diminished as compliance among participating nations began to slip and as other countries continued to grow production. However, US producer cuts to capital expenditures along with stronger-than-expected demand for petroleum products outweighed negative sentiment towards OPEC. In Agriculture, markets continue to watch weather conditions as August is a key production stage for soybeans. Unexpected weather shocks may damage the US crop and lead to a lackluster production year. Base metals demand continued to be linked to China's economy and its interest of implementing stricter environmental standards, which has recently led to a ban on various copper scrap metal imports beginning at the end of 2018. This may cause China to import more refined copper."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "Economic growth continued to improve within key developed and emerging market nations. Japanese manufacturers' confidence rose while China's second quarter GDP came in stronger-than-expected. The Eurozone's June Purchasing Managers Index reading remained in expansionary territory. Lastly, US labor markets improved as demonstrated by a positive June jobs report and growing participation in the workforce. June manufacturing data also came in higher versus May's data. These metrics have encouraged the Fed to again signal a possible reduction in their balance sheet in September, though they remained focused on lower-than-desired inflation readings. The European Central Bank is showing signs of potentially becoming less accommodative if growth indicators continue to improve. Overall, major central banks continue to remain accommodative but are also mulling over when a potential tightening can take place. The timing and speed of such tightening may lead to periods of higher-than-unexpected inflation. This may be supportive for investments in commodities as a strategic diversifier in a well-diversified portfolio."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 30 years of experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of July 31, 2017, the Team managed approximately USD 8.6 billion in assets globally.
Press Contact
Candice Sun, Corporate Communications, +1 (212) 325-8226, candice.sun@credit-suisse.com
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,230 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2017, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
View original content with multimedia:http://www.prnewswire.com/news-releases/commodities-increased-on-strong-demand-300503402.html
SOURCE Credit Suisse AG
NEW YORK, May 10, 2017 /PRNewswire/ -- Commodities declined in April on weakening industrial demand expectations out of China and increasing US crude inventories, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was negative for the month, with 15 out of 22 Index constituents posting losses.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "Geo-politics continue to remain at the forefront of macroeconomic attention. Meanwhile, European economic data have been generally constructive as of late, and political stabilization may make it easier for the positive momentum to continue, which could be supportive of economically-sensitive commodities. Within the Energy sector, global crude oil and petroleum products inventories continue to tighten, partially due to the OPEC-coordinated production cuts, with a decision in May on the table as to whether or not to extend those cuts. The resulting higher prices has led to increased US crude oil production, though not enough to fully offset the production cuts or increased demand. Thus, there are some positive signs indicating the tightening may have begun as the fundamentals underlying these markets continue to slowly improve."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "The National Oceanic and Atmospheric Administration signaled the possibility of a return to an El Niño phenomenon in late summer. Resulting weather events may affect the key production cycle for agricultural crops, particularly grains within the US, which may cause prices to rise. Separately, the March Jobs Report indicated that the US unemployment rate fell to its lowest level in almost ten years while wages continued to gradually increase. These statistics are suggestive of a tightening labor market and possible progress towards the US Federal Reserve's goal of sustainable maximum employment. However, the Fed still maintains its forward guidance of only two additional rate hikes this year. This slow normalization of interest rates coupled with rising wage pressures may increase the probability that inflation overshoots expectations."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 30 years of experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of April 30, 2017, the Team managed approximately USD 8.7 billion in assets globally.
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,640 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Asset Management
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 21 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2017, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
SOURCE Credit Suisse AG
NEW YORK, Oct. 11, 2016 /PRNewswire/ -- Commodities increased in September, broadly due to supply fundamental factors, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was positive for the month, with 18 out of 22 Index constituents posting gains.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "September was generally a strong month for commodities. Adverse weather impacted softs, particularly sugar, as frosts in Brazil and lower-than-average monsoon rain in India led to concerns over cane yields. The potential for future disruptive weather remains uncertain as expectations for a La Niña vary. Within Energy, OPEC's tentative agreement for modest production cuts boosted market sentiment. The details of the deal are not expected to be released until OPEC's meeting in November, and significant uncertainty remains. However, the provisional deal indicates that the group is once again willing to play a key role in managing global supplies and influencing prices. Saudi Arabia's actual production cuts will likely be integral to the agreement's impact in terms of bringing global supply and demand into balance more quickly."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added: "Global central bank policy may influence commodity returns through year-end. While the European Central Bank left its monetary policy unchanged in September, the Bank of Japan introduced a new stimulus tool that will set a target for 10-year interest rates. The ramifications of Japan's measures are unknown. Labor markets continue to show signs of improvement, and hawkish language after the FOMC's September meeting increased expectations for a December interest rate hike. If future economic data comes in below expectations or if the upcoming US presidential election leads to heightened risks, the US Federal Reserve may refrain from raising rates this year. Both US and non-US central banks seem committed to improving global growth and driving up inflation, each of which may prove supportive for commodities."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 29 years of experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of September 30, 2016, the Team managed approximately USD 8.9 billion in assets globally.
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 47,180 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Asset Management
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change without obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not a guide to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments: Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2016, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
Logo - http://photos.prnewswire.com/prnh/20091204/CSLOGO
SOURCE Credit Suisse AG
NEW YORK, Jan. 11, 2016 /PRNewswire/ -- Commodities were lower in December, largely driven by supply surpluses and weather events, according to Credit Suisse Asset Management.
The Bloomberg Commodity Index Total Return performance was negative for the month, with 12 out of 22 Index constituents trading lower.
Credit Suisse Asset Management observed the following:
Nelson Louie, Global Head of Commodities for Credit Suisse Asset Management, said: "Supply surpluses and weather events, particularly within the Energy and Agriculture sectors, persisted throughout the period. While some of the weather impacts may be abating, agricultural commodities have already been impacted. In addition, there is heightened potential for next year's crop cycles in key growing regions to disappoint, though much uncertainty remains. OPEC reaffirmed that it would not cut output and the prospect of Iranian crude production coming online at the start of 2016 is likely to continue to be a driver of returns. However, toward the end of the period, tensions in the Middle East began to intensify between Saudi Arabia and Iran, among other nations. Should production from a Middle Eastern source be disrupted, the impact on crude oil and petroleum products could be sharp. OPEC spare capacity is at its leanest level in years and, while still high, U.S. crude production and planned exploration is much lower than it would have been in a higher price environment."
Christopher Burton, Senior Portfolio Manager for the Credit Suisse Total Commodity Return Strategy, added, "Policy divergence among global central banks has become a prominent theme. U.S. monetary policy has embarked on a tightening course as the U.S. Federal Reserve raised interest rates in December. Despite recent strong U.S. economic data, inflation continues to run below the Fed's target, which may cause them to remain on a slow course toward fully normalizing rates. Meanwhile, the PBoC reaffirmed its commitment to further loose monetary policy into 2016, while the ECB reiterated it will continue its quantitative easing measures for as long as necessary. If the U.S. economy shows signs of improvement at a higher-than-expected pace, the potential of inflation overshooting expectations may increase. This, along with the potential inflation risks of continued loose monetary action out of Europe and Asia, may highlight the valuable diversification benefits of commodities in the long-term."
About the Credit Suisse Total Commodity Return Strategy
Credit Suisse's Total Commodity Return Strategy is managed by a team with over 28 years of experience, and seeks to outperform the return of a commodities index, such as the Bloomberg Commodity Index Total Return or the S&P GSCI Total Return Index, using both a quantitative and qualitative commodity research process. Commodity index total returns are achieved through:
As of December 31, 2015, the Team managed approximately USD 7.7 billion in assets globally.
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,000 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Asset Management
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.
Important Legal Information
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change without obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not a guide to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
Certain risks relating to investing in Commodities and Commodity-Linked Investments:
Exposure to commodity markets should only form a small part of a diversified portfolio. Investment in commodity markets may not be suitable for all investors. Commodity investments will be affected by changes in overall market movements, commodity volatility, exchange-rate movements, changes in interest rates, and factors affecting a particular industry or commodity, such as drought, floods, weather, livestock disease, embargoes, tariffs and international economic, political and regulatory developments. Commodity markets are highly volatile. The risk of loss in commodities and commodity-linked investments can be substantial. There is generally a high degree of leverage in commodity investing that can significantly magnify losses. Gains or losses from speculative derivative positions may be much greater than the derivative's original cost. An investment in commodities is not a complete investment program and should represent only a portion of an investor's portfolio management strategy.
Copyright © 2016, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
Logo - http://photos.prnewswire.com/prnh/20091204/CSLOGO
SOURCE Credit Suisse AG
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