Is the Roller-Coaster Commodities Ride Over?
Global stocks fell toward a three-month low and bonds jumped as investors crowded into haven assets after polls showed Donald Trump gaining ground in next week’s U.S. presidential election. The Bloomberg Industrial Metals Subindex fell for the first time in eight days, as zinc retreated from a five-year high in London and aluminum slid from its highest close since June 2015. Crude oil fell 1.6 percent to a one-month low in New York after industry data showed American inventories increased by 9.3 million barrels last week. Organization of Petroleum Exporting Countries members Libya and Nigeria are boosting output, providing a challenge to the group’s effort to finalize an agreement to curb production and stabilize prices. Tiberius Group CEO and Co-Founder Christoph Eibl discusses commodities with Guy Johnson in London and Caroline Hyde in Berlin on "Bloomberg Markets: European Open."