The healthcare sector went on a tear beginning in 2011, thanks in large part to the passage of the Affordable Care Act and its impending implementat
Thursday, 19 January 2017
Last updated 12 hours ago
Dec 17 2012 | 10:46am ET
Hedge funds and other investors cut their commodity bets last week amidst growing fears about the U.S.'s fiscal cliff.
While a potential breakthrough came this weekend, when U.S. House Speaker John Boehner tentatively agreed to some tax increases, last week was dominated by uncertainty and a warning from the Federal Reserve. That helped push money manager's bets on 18 futures and options down 11% in the week ended Dec. 11. The 802,817 contracts owned by hedge funds and others is the lowest number in a month, the U.S. Commodities Futures Trading Commission said.
Sugar took a particularly big hit, with a 68% drop in holdings. Wheat contracts dropped 67% to their lowest level since June, and oil holdings fell 21%. Contracts on 11 farm goods fell 9.6%.
Gold holdings, by contrast, rose 3%.