A simple chart shows why everyone exposed to commodity prices is getting hammered this year
2015 has been a horrible year for anyone whose income depends on digging things out of the ground. Major commodity exporters like Australia have suffered, and mining companies across the board have been struggling.
A chart from analysts at Macquarie puts the whole thing into perspective, showing how a huge range of assets have performed during 2015 so far, in dollar terms. Most major equity indices are in positive territory. Bonds are negative, but not deeply so.
But industrial and precious metals, energy and agricultural commodities have all been absolutely hammered — take a look:
Of the 15 assets that have dropped by over 20% in the year so far in dollar terms, only one of them, the Brazilian real, is not directly related to the commodity slump. The worst-hit items range from rhodium to lean hogs and lumber — only a handful of agricultural commodities have been spared from the wipeout.