Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - GRANT PARK FUTURES FUND LIMITED PARTNERSHIP | f8k_101910.htm |
EXHIBIT 99.1
Grant Park Fund Weekly Commentary
For the Week Ended October 15, 2010
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October 15, 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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Class A Units
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1.0%
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4.7%
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2.9%
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|
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Class B Units
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1.0%
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4.7%
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2.4%
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|
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Legacy 1 Class Units
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1.0%
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4.6%
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4.1%
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|
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Legacy 2 Class Units
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1.0%
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4.6%
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3.8%
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Global 1 Class Units
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1.0%
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3.9%
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1.7%
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Global 2 Class Units
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1.0%
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3.9%
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1.4%
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|
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Global 3 Class Units
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1.0%
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3.8%
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-0.1%
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S&P 500 Total Return Index2
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1.0%
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3.1%
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7.1%
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|
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Barclays Capital U.S. Long Government Index2
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-3.1%
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-3.3%
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15.0%
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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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Increase
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Weak forecasts for this year’s harvest
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Wheat
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Decrease
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Improved weather conditions in key farming regions
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Lean Hogs
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Decrease
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USDA reports forecasting weak supplies
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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 predominantly short the sector.
Currencies
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Sector/Market
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Price Action
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Cause
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Japanese Yen
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Increase
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Speculation the U.S. Federal Reserve will soon begin buying U.S. debt as a manner of quantitative easing
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U.S. Dollar
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Decrease
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Higher-than-expected U.S. jobless claims estimates
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Euro
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Increase
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Gains in key European equity markets
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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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Natural Gas
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Decrease
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Elevated inventories and weak forecasts for industrial demand
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Crude Oil
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Decrease
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Reports from the Energy Information Administration showing energy demand near one-year lows
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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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DAX Index
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Increase
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Strong gains in the German industrial sector prompted buying
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Japanese equity markets
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Increase
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Beliefs a stronger Japanese yen would hinder Japanese exports
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North American equity markets
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Increase
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Speculation quantitative easing will help the U.S. economy
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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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Decrease
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Decreased demand for safer assets and weak results from a recent 30-Year Treasury Bond Auction
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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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Increased buying by investors attempting to hedge U.S. dollar exposure
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Copper
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Increase
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Improved manufacturing data in the U.S.
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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.