Commodities Comment:“Sell in May”

Buy after Halloween and sell before May Day is a profitable strategy for equityinvestors in most major markets, academics have found. We find a similar andstrong effect for all metal prices over the past 15 years with the exception oflead and, to some extent, gold. However, in recent years the outperformancehas disappeared, questioning its usefulness going forward.

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    The IMF on Tuesday released its April update of its flagship economicforecasts, the World Economic Outlook. It made almost no change to itsestimate of economic growth globally