Head of Market Strategy, MPS CAPITAL SERVICES
In recent years, commodity prices have experienced significant fluctuations, with different reactions from financial markets. In particular, the dynamics of commodity prices showed significant differences during the economic and financial crisis that began in September 2008 (i.e., the month of the default of the former government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac). In response, in the following months, the U.S. Federal Reserve (FED) spent billions to buy back Treasury notes and mortgage-backed securities. During the two years after the crisis began, the U.S. government was forced to create ...