There are two main indexes tracked by commodity tracker funds: The S&P-Goldman Sachs Commodities Index and the Dow Jones UBS Commodities Index. Assessing the likely impact of these passive longs on Comex throws a new light on the record level of Managed Money short positions.
A long time ago some big banks decided that it would be good to sell interest-rate derivatives. To do that they needed an interest rate on which to sell derivatives. Various possibilities presented themselves -- Treasury rates or whatever -- but the interest rates that the banks themselves paid on short-term borrowing had an especially obvious appeal as an index.
Joaquín Almunia, Commission Vice-President in charge of competition policy, said: “What is shocking about the LIBOR and EURIBOR scandals is not only the manipulation of benchmarks, which is being tackled by financial regulators worldwide, but also the collusion between banks
A key to investing in Russia is to focus on domestic areas of the market that are profitable and growing. While China’s urbanization gets a lot of attention today, in the case of the Soviet Union, urbanization happened back in the thirties.