The Bloomberg Commodity Total Return Index extended its strong year-to-date performance, rising 1.6% on the week and pushing further into what is now a fourth consecutive monthly gain. The index is up around 15% in 2025 having reached the highest level since June 2022, and currently 9% below the 2022 all-time high, when Russia's invasion of Ukraine triggered a surge in energy and key crops. Gains were broad but metals did the heavy lifting, while energy weakened again as diesel prices corrected sharply. The macro environment offered a constructive tailwind. Global equity markets rebounded after the prior week’s ... (full story)