Notes from the Kitchen

Notes from the kitchen - Episode 1

  • Jul 22, 2020
  • Craig Farley
  • Speculation over political machinations on changes to voting districts might distract from further Stimulus measures. Look for equity market to retrace some of recent gains. Taking a little profit from broad market equity exposure.
  • Chinese economic data proving surprisingly resilient, pointing to robust domestic consumption. Demographic change still in focus.
  • Favourable response to EU economic support package saw bonds (particularly peripherals) tighten further. Can 10 Year BTP’s at 1.04% be a bargain versus 10 Year Bunds at -0.5% ?
  • Too early for Commercial Property, given the potential for write downs on new lease negotiations, and move from companies towards greater home working. Online retail warehousing the exception.
  • Agricultural Land and Water and Pollution Treatment opportunities to be investigated further.
  • Topping up current precious metals weighting with addition of physical Silver holding. (Favourable Gold / Silver ratio, industrial demand outlook, and weaker Dollar).

TEAM Asset Management is a trading name of Theta Enhanced Asset Management Limited which is regulated by the Jersey Financial Services Commission.