![Market Overview - July 2020 Thumbnail](https://static.twentyoverten.com/5dea86303898b56a56b3d501/EKA-w03YazM/Commodities-Image4.jpg)
Market Overview - July 2020
Value-oriented investors may wish to note that Commodities returns have been flat or negative in 7 of the past 10 periods (including YTD 2020). The current depressed field position coincides with a multi-decade high in money supply growth and a potentially protracted period of disruption in global supply chains going forward.