The asset show in August

Commodities beat bonds, stocks and the dollar for a third month, the longest winning streak in two years as the prospect of military strikes in Syria boosted oil and gold. Emerging markets declined as currencies plunged from Brazil to Turkey to India.


There is definitely a stealth recovery going on in commodities as the fundamentals of the rest of the assets appear to be weak. Of course that doesn’t mean that it’s going to be more trouble for stocks which seem to be bottoming out in parts of the world. For the moment, it’s the commodities day out.