Summary: The last two quarters of 2020 witnessed an unprecedented event in commodity markets. Of the 27 commodities in the SDCI index universe, 26 had positive returns. This event is truly extraordinary when one considers that this is the first such six-month period analyzing data since 1991. Is it just euphoria, or are there fundamental reasons for this price rally? We will explore the monetary and fiscal policy fundamentals behind this market phenomenon along with the implications for investment portfolios. More...