Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - GRANT PARK FUTURES FUND LIMITED PARTNERSHIP | f8k_100510.htm |
EXHIBIT 99.1
Grant Park Fund Weekly Commentary
For the Week Ended October 1, 2010
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October 1, 2010
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Weekly ROR1
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Month-to-Date ROR1
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Year-to-Date ROR1
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|
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Class A Units
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0.1%
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-0.1%
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-1.9%
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|
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Class B Units
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0.1%
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-0.1%
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-2.3%
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|
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Legacy 1 Class Units
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0.1%
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-0.2%
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-0.7%
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|
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Legacy 2 Class Units
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0.1%
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-0.2%
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-1.0%
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|
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Global 1 Class Units
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0.1%
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0.0%
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-2.1%
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|
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Global 2 Class Units
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0.1%
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0.0%
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-2.4%
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|
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Global 3 Class Units
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0.1%
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0.0%
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-3.7%
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|
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S&P 500 Total Return Index2
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-0.2%
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0.4%
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4.3%
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|
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Barclays Capital U.S. Long Government Index2
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1.1%
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-0.4%
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18.4%
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1
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Subject to independent verification.
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2
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Index is unmanaged and is not available for direct investment. Please see Indices Overview (below) for more information. Weekly RORs are calculated using data acquired through Bloomberg.
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Sector Commentary
Agriculturals/Softs
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Sector/Market
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Price Action
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Cause
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Corn
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Decrease
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The U.S. Department of Agriculture reported an unexpected increase in U.S. corn inventories
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Soybeans
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Decrease
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Forecasts for optimal weather conditions in key regions of Brazil and Argentina elevated supply forecasts.
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Sugar
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Decrease
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An improved global supply forecast
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Grant Park’s longer-term trading advisors are predominantly long the agriculturals/softs sector. Grant Park’s shorter-term trading advisors are also predominantly long the sector.
Currencies
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Sector/Market
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Price Action
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Cause
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U.S. dollar
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Decrease
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Predictions for further quantitative easing by the U.S. Federal Reserve
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Australian dollar
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Increase
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Strong manufacturing data reported for China is believed to bode well for the Australian economy
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Grant Park’s longer-term trading advisors are predominantly short the currency sector. Grant Park’s shorter-term trading advisors are also predominantly short the sector.
Energy
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Sector/Market
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Price Action
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Cause
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Crude oil
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Increase
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Weak supply data and improved demand forecasts, combined with bullish economic indicators from China and the U.S.
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Natural gas
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Decrease
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A larger-than-expected rise in U.S. supply
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Grant Park’s longer-term trading advisors are predominantly long the energy sector. Grant Park’s shorter-term trading advisors are also predominantly long the sector.
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES A HIGH DEGREE OF RISK AND IS NOT SUITABLE FOR ALL INVESTORS. THIS DOES NOT CONSTITUTE AN OFFER OF ANY SECURITY FOR SALE. OFFERING BY PROSPECTUS ONLY.
INFORMATION IN THIS COMMENTARY IS DRAWN FROM VARIOUS SOURCES THAT ARE DEEMED TO BE RELIABLE. HOWEVER, THE INFORMATION IS NOT AUDITED BY DEARBORN CAPITAL. IN ADDITION, DEARBORN CAPITAL DRAWS UPON THIS INFORMATION TO MAKE ITS OWN ASSUMPTIONS WHICH COULD BE CONSIDERED DEARBORN CAPITAL’S OPINION. DEARBORN CAPITAL BELIEVES THAT ANY SUCH STATEMENTS OF OPINION HAVE A REASONABLE BASIS IN FACT.
Equities
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Sector/Market
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Price Action
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Cause
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European equity markets
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Decrease
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A decline in investor sentiment caused by the upcoming bailout of a key Irish bank and Moody’s downgrade of Spanish debt
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Hang Seng
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Increase
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Improved conditions in China’s industrial sector
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Grant Park’s longer-term trading advisors are predominantly long the equities sector. Grant Park’s shorter-term trading advisors are also predominantly long the sector.
Fixed Income
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Sector/Market
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Price Action
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Cause
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U.S. Treasuries
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Increase
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Strong demand during recent Treasury auctions and declines in the U.S. equity markets
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Bunds
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Increase
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Increased risk aversion caused by fears regarding the potential downgrading of the sovereign debt of several smaller European nations
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Grant Park’s longer-term trading advisors are predominantly long the fixed income sector. Grant Park’s shorter-term trading advisors are also predominantly long the sector.
Metals
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Sector/Market
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Price Action
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Cause
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Precious metals
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Increase
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A sharp decline in the U.S. dollar
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Base metals
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Increase
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Signs of increased demand by China for industrial materials
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Grant Park’s longer-term trading advisors are predominantly long the metals sector. Grant Park’s shorter-term trading advisors are predominantly short the sector.
Indices Overview 2
Standard and Poor’s 500 Total Return Index (S&P 500 Index) – A weighted index of the 500 stocks in the S&P 500 Index, which are chosen by Standard and Poor’s based on industry representation, liquidity, and stability. The stocks in the S&P 500 Index are not the 500 largest companies, rather the index is designed to capture the returns of many different sectors of the U.S. economy. The total return calculation includes the price-plus-gross cash dividend return.
Barclays Capital U.S. Long Government Index (formerly Lehman Brothers U.S. Government Index: Long Subset) – A benchmark comprised of the Barclays Capital U.S. Treasury and U.S. Agency indices. The U.S. Long Government Index includes Treasuries (public obligations of the U.S. Treasury that have remaining maturities of more than ten years) and U.S. agency debentures (publicly issued debt of U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government). The U.S. Government Index is a component of the Barclays Capital U.S. Government Index.
ALL PERFORMANCE REPORTED IS NET OF FEES AND EXPENSES.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES A HIGH DEGREE OF RISK AND IS NOT SUITABLE FOR ALL INVESTORS. THIS DOES NOT CONSTITUTE AN OFFER OF ANY SECURITY FOR SALE. OFFERING BY PROSPECTUS ONLY.
INFORMATION IN THIS COMMENTARY IS DRAWN FROM VARIOUS SOURCES THAT ARE DEEMED TO BE RELIABLE. HOWEVER, THE INFORMATION IS NOT AUDITED BY DEARBORN CAPITAL. IN ADDITION, DEARBORN CAPITAL DRAWS UPON THIS INFORMATION TO MAKE ITS OWN ASSUMPTIONS WHICH COULD BE CONSIDERED DEARBORN CAPITAL’S OPINION. DEARBORN CAPITAL BELIEVES THAT ANY SUCH STATEMENTS OF OPINION HAVE A REASONABLE BASIS IN FACT.