PDBC: Trump Has Just Spoiled The 2022-Style Commodities Boom

PDBC offers diversified commodity exposure via derivatives, with oil comprising over 26% of the portfolio, amplifying recent outperformance and volatility. Inflation expectations are supporting PBDC's expected return, as is a potential economic expansion. This scenario, for many investors, is reminiscent of what happened in 2022. Short-term US break-even inflation exceeds 5%, but long-term expectations remain anchored, suggesting only a transitory inflation impact benefiting PDBC.