The flash estimate for the Barclay CTA Index, compiled by BarclayHedge, indicates a 0.05% loss in June. Year to date, the index is down 2.00%.
“Trade war concerns sparked by economic sabre rattling shook grain markets, while US pressure on its allies to boycott Iranian oil rallied energy prices to new highs on the year,” says Sol Waksman, founder and president of BarclayHedge.
Agricultural traders were down 0.59% in June, the Discretionary Traders Index lost 0.59%, and diversified traders gave up 0.21%.
The MPI Barclay Elite Systematic Traders Index gained 0.91% in June, currency traders were up 0.76%, and financial and metals traders gained 0.15%.
“The Fed raised short-term rates in June and announced plans for two more rate increases this year,” says Waksman. “The prospect of rising US rates drove the USD higher against major currencies.”
At the halfway point in 2018, six of Barclay’s CTA Indices are in negative territory, while three have gains.
Diversified traders are down 3.08% for the year, systematic traders have lost 2.68%, financial and metals traders are down 2.53%, and the MPI Barclay Elite Systematic Traders Index has lost 2.41%.
The Currency Traders Index is up 3.57% in 2018, discretionary traders have gained 2.36%, and agricultural traders are up 1.14%.
The BTOP50 Index, which is composed of the largest CTAs open to new investment, gained 0.73% in June, but remains down 2.85% for the year.
The Cryptocurrency Traders Index dropped 16.23% in June, and has given up 45.43% after six months of trading in 2018.