Quantitative easing into the "second quarter" of funds compete in the global commodity.

<P> In global stock markets rose in the latest wave of massive resources and commodities play a crucial role. .Continuous record in the gold under the guidance of crude oil, copper, cotton and other commodities have continued to surge, the highest ever number of years or even high. .</ P> <P> from the end of August to mid-October period, covering 19 kinds of commodities futures Reuters / Jeffries CRB commodity index rose by nearly 14% to two-year high. .Analysts pointed out that the quantitative easing policy with the West into the "second quarter", the increasingly global spread of financial market liquidity, the dollar fell again into a channel, but for concerns about future inflation are also increasing. .In this case, investment in commodities as an alternative to the charm of the subject of increasingly prominent types of funds have been pouring into the field. .</ P> <P> in China, commodity investment boom is also a great warming trend. .A shares listed on the recent commodity stocks continued to hit, some colored varieties is a continuous daily limit. .At the same time, China's first commodity index ETF - ETF commodities on the card is expected to launch in the fourth quarter, to investors involved in commodities provides a new way of investment. .⊙ reporter Zhuzhou Liang </ P> <P> open the flow of U.S. and Japanese central banks of the gate </ P> <P> after bottoming out with the financial crisis, the strongest wave of economic rebound in the second peak in the third quarter ., the major Western central banks set monetary policy line began to "second amendment." .Normalization of the original plan to gradually return to the policy of some countries, the pace began to suspend the exit, turn to consider the implementation of the new monetary policy stimulus, a typical representative of the Federal Reserve and the Bank of Japan. .</ P> <P> on September 21 in the latest meeting on interest rates, the Fed clearly show a willingness to adopt more stimulative monetary policy measures of intention. .According to last week's minutes of the meeting documents, the majority of decision-making members of the Fed's view that the Federal Open should continue to historically low interest rates, and may be "soon" launch a further easing monetary policy. .</ P> <P> meeting revealed that many participants pointed out that if economic growth remains too low to reduce unemployment, or inflation rate remained below the appropriate level of the Fed that the Fed will take additional monetary easing .. .Many analysts believe that in early November next meeting on interest rates, the Fed may introduce additional stimulus measures, mainly to purchase the bonds, the scale may be more than 500 billion U.S. dollars or more. .</ P> <P> which has been mired in deflation, the Bank of Japan unexpectedly announced earlier this month, will have near-zero interest rates continued to fall back again after a lapse of 4 years of zero interest rate policy, while pushing the tens of trillions of new .yen asset purchase program, quantitative easing intent shown. .</ P> <P> other major Western central banks, the Bank of England has hinted will continue to ease monetary policy. .Bank of England policy makers Posen said last week that the global economy needs more monetary stimulus to avoid the repeat of the European decision-makers in the last century, 30 years in the past. .Cameron claimed the Prime Minister, the risk facing the UK economy, but monetary policy to boost economic growth remains the most effective means, rather than fiscal measures. .</ P> <P> the Global Fund to "get together" commodities </ P> <P> new dishing out major economic weight of "printing" heavy weapons, to bring in more liquidity to the market, but also with .to no small "side effects", such as asset price inflation, as inflation is expected to heat, such as the raging hot money in emerging markets. .</ P> <P> this end, the policy of many emerging economies, the authorities have begun to plan ahead, take specific measures to curb the excessive influx of hot money, and prevent potential higher inflation. .</ P> <P>, for example, as an anti-inflationary measure, the MAS announced last week, will expand the range of Singapore dollar exchange rate fluctuations. .Unlike most countries, Singapore, mainly through exchange rate adjustments to achieve the monetary policy intentions. .Given the current risk of inflation has been significantly biased, the Singapore authorities tend to tighten monetary policy. .</ P> <P> Also last week, Thai authorities unexpectedly announced that it would gain foreign investment in local bonds 15% of the profits tax imposed to curb the influx of hot money too fast and induce severe market fluctuations. .Similarly afflicted by the hot money is the Brazilian government announced earlier this month, foreign investment in bonds will be doubled tax rate to 4%. .In Hong Kong, China, authorities have recently introduced a new package of regulatory measures to prevent the tendency of the property market bubble. .A similar tendency is also troubled asset bubbles in many other emerging economies. .</ P> <P> a new round of another large-scale effects of quantitative easing, the dollar is the result of the global currency remained low, with a corresponding dollar-denominated commodities also give a boost. .UBS recently announced goal to reduce the one-month U.S. dollar exchange rate, as expected the Fed will ease policy next month's meeting. .UBS said the dollar against the euro will reach $ 1.4 within a month, the previous target of $ 1.35; U.S. dollar against the yen to 80 yen to 85 yen before the expected. .</ P> <P> rise in inflation, in the context of the weak dollar, commodities become more and more attractive investment, which from the recent large-scale intervention of international capital can be seen in this section. .Professional fund tracking agency statistics show that over the past five weeks, the global net inflow of funds will continue to fund all kinds of commodities. .Among them, some commodity producers, especially in countries with sought after by investors, such as South Africa, Russia, Brazil and so on. .</ P> <P> from the big trend in recent years, funds investing in commodities boom has not ceased. .According to statistics, in 2004 the global scale of commodity index funds only 5 billion, but by 2007 it expanded to 1,500 billion U.S. dollars. .Morningstar's data show that, even in the financial crisis of 2008, global commodity ETF has also attracted about 262 billion dollars of net inflows. .</ P> <P> Chinese commodities boom in full swing </ P> <P> industry noted that in recent years, major new commodity markets from index funds of funds. .A new report from UBS, the current global investment in commodity index funds has reached 200 billion U.S. dollars of scale, of which 55% of investment in energy, 15% investment in the metal, the remaining investment in other commodities. .</ P> <P> from the recent wave of commodity prices look relatively more prominent non-ferrous metals such as gold, has recently been a record high, reached last week near the $ 1,377 from $ 1,500 a lot of people expected short-term .targets have been not far off. .Investment bank Goldman Sachs predicted last week raised the price of gold is expected to 3 months up to $ 1,400 gold, 6 months, up to $ 1,525, 12 months is expected to reach $ 1,650. .</ P> <P> Guotai Junan recent report points out that a possible global outbreak of a "currency war" against the backdrop of the global monetary system may be systematically devalued, this risk is expected to be near resource commodity prices the main factor prices .. .The agency particularly promising for metal, saying that "the exchange rate war" may be further stimulated in the short term metal prices. .Weak industrial property has hit a new high of gold expected to finance properties in the strongest industrial metals copper and zinc and other metal resources shortage will hit a new high in the short term. .</ P> <P> JP Morgan Managing Director and Chairman of China Securities and Commodities report recently published by Li Jing, the Chinese demand for commodities remained strong, especially on the demand for metals and oil imports will remain strong. .She pointed out that the next 12 months, due to relatively tight global supply and demand, JP Morgan Chase for the price of crude oil and copper optimistic about the prospects. .</ P> <P> on China's stock market investors, the good news is that China's first commodity index ETF will soon be available. .Industry to reliable sources, the Shanghai Commodity ETF is expected to launch in the fourth quarter, giving those who wish to share through the stock market rally in commodity prices to provide a targeted investment in new channels. .</ P> <P> It is reported that the Shanghai Commodity ETF tracking the Shanghai Commodity Index (000066.SH), the latter by the League of Nations Security Fund and China Securities Index Co., Ltd. jointly developed for the domestic Shanghai stock market based on first .commodity index. .Shanghai stock index over commodities that the whole sample of stock certificates as a sample space to sample space in the energy, industrial materials category, the three major categories of Agricultural commodity stocks trade stocks, choose a large market size, liquidity, good 50 .only commodities stocks into commodities index of Shanghai in order to comprehensively reflect the Shanghai stock market commodity-related industries and enterprises as a whole. .</ P> <P> third quarter, rising by the resources sector promotion, the Shanghai Commodity index has risen 40.2%, is particularly eye-catching, the Shanghai Composite Index over the same period rose to 17.04%. .</ P>.