Research and publications
A Long-Term Perspective on Commodity Futures Returns
This paper reviews 75 years of literature on the commodity futures markets, examining various theories on what motivates participants in the futures markets, including hedgers, speculators, and now investors. It then discusses how term structure should be the primary driver of (historical) long-term commodity futures returns.
Author(s):
Hilary Till
Summary:
This paper reviews 75 years of literature on the commodity futures markets, examining various theories on what motivates participants in the futures markets, including hedgers, speculators, and now investors. It then discusses how term structure should be the primary driver of (historical) long-term commodity futures returns.
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Register/Log in| Type : | Working paper |
|---|---|
| Date : | 10/02/2006 |
| Keywords : |
Commodities |
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