2010 Outlook: Resource Realignment
【出版时间及名称】：20091203
        【作者】：高盛
        【文件格式】：PDF
        【页数】：60
【目录或简介】：
Executive Summary  3
2010 Commodities price forecasts  5
S&P GSCI Enhanced Commodity Index and strategies’ total returns 5
Current trading recommendations  6
Price actions, volatilities and forecasts  7
2010 Issues and Outlook: Resource realignment  8
Oil: A slow developed markets recovery amid an emerging markets revolution 12
World oil demand: A slow developed markets recovery amid an emerging markets revolution 12
World oil supply: On the sustainability of higher growth 16
2010: The world oil market rebalances  17
2011: Pricing demand destruction  17
Rolling our long Heating Oil short Fuel Oil trade 18
Natural gas: Lowering our forecast on the back of delayed production declines 19
Base metals: Urbanization is broadly supportive but extraction generates differentiation 25
Precious metals: US Fed on hold leaves gold room to run 34
Agriculture: It’s still all about weather, but ongoing structural demand shifts in corn should prove supportive 41
Livestock: Economic recovery suggests rising meat demand amid tighter supplies 46
Commodities in a nutshell  49
Disclosures  60