Commodities Overtake Stocks, Bonds With Best Rally Since 2010
- Crude posts biggest monthly gain in year; Silver climbs
- Vedanta's Albanese says worst is over for raw materials
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The global gluts that have plagued markets from crude oil to zinc are finally starting to subside, sending commodities to their biggest monthly gain since December 2010.
The Bloomberg Commodity Index, a measure of returns for 22 components, climbed as much as 1.1 percent on Friday to the highest since November. The gauge climbed 8.5 percent in April, beating returns for indexes of global equities, high-yield and investment grade, bonds, Treasuries and all major currencies. Oil in New York posted the biggest monthly gain in a year, and gold reached the highest in more than a year.