The commodities bloodbath of 2015 in one chartNOVEMBER 30, 2015 AT 11:27 AM
Business Insider / Jonathan Marino
Commodities have been getting creamed in 2015.
And according to Jodie Gunzberg, global head of commodities at S&P Dow Jones Indices, it isn’t going to get any better any time soon.
“Unfortunately for commodities, there’s no waking up from this nightmare.”
So far, 2015 has not yet been the worst year for any single commodity, Gunzberg noted in a November 30 report, but there are a number of commodities that are on pace for one of their worst years on record.
“Aluminum is having its second worst year in history and gold is having its sixth worst year in history,” Gunzberg writes.
The S&P tracked each commodity’s performance back to 1970 for its research. No fewer than 17 are having one of the their five worst years out of 45.
Natural gas is down more than 40% this year, according to S&P, and energy is down more than 30% — making 2015 the fifth-worst year for each.
Already, Wall Street is bracing for big fallout. Wall Street banks are expecting more defaults in the energy sector as they see more loans underperforming.