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The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited.The index was originally launched in 1998 as the Dow Jones-AIG Commodity Index (DJ-AIGCI) and renamed to Dow Jones-UBS Commodity Index (DJ-UBSCI) in 2009, when UBS acquired the index from AIG.
The first index to track commodity futures prices was the Dow Jones futures index which started being listed in 1933 (backfilled to 1924). [1] The next such index was the CRB ("Commodity Research Bureau") Index, which began in 1958. Due to its construction both of these were not useful as an investment index.
The index was originally developed in 1991, by Goldman Sachs. In 2007, ownership transferred to Standard & Poor's, who currently own and publish it. Futures of the S&P GSCI use a multiple of 250. The index contains a much higher exposure to energy than other commodity price indices such as the Bloomberg Commodity Index.
The benchmark lead price on the London Metal Exchange (LME) spiked as much as 8.3% on Friday to $2,019.50 a tonne following the news, but has since pared gains to around $1,970 on Tuesday morning.
The index was up slightly as of midday Monday, nearing the $5,950 threshold. ... Prices may swing more quickly and dramatically as investors try to expand or exit their positions.
Economists had expected the index to tick up to 55.1. Increased activity in the services sector drove the gains, with the services PMI business activity index hitting a reading of 58.5, its ...
The Bloomberg Terminal is a computer software system provided by the financial data vendor Bloomberg L.P. that enables professionals in the financial service sector and other industries to access Bloomberg Professional Services through which users can monitor and analyze real-time financial market data and place trades on the electronic trading ...
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