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Global equities closed higher on August 12, with the S&P 500 near a record high. US and European government bonds sold off for a second day, and crude oil rose 2.5% to $42.67 per barrel.
Gold closed slightly higher at $1,949 per ounce, and US CPI rose 0.6% in July with energy up 2.5%.
Higher energy prices and a rebound in crude raise input and freight costs for feed producers, while broader macro moves affect currencies and commodity financing.
prod.azure.ihsmarkit.comAug 12, 2020After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% over 20.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% over 20.
After 359 past neutral macro events, US Dollar (Broad) moved a median -0.0% over 5 sessions (49% higher; middle half -0.4% to +0.4%), and -0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
