The NHX CTA Index posted another monthly gain in July 2025, as steady profits in soft commodities and equity indices managed to offset balance blitzkrieg-like losses in industrial metals at month-end. The latter came after copper prices plunged in response to another surprise policy move by President Donald Trump. Performance across managers and sub-strategies varied depending largely on commodity exposure.
Last month, Time-Series Momentum (TSMOM) as measured by RPM’s Market Divergence Indica...
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