Most major equity market indices have fallen in April. As central banks on both sides of the Atlantic begin to raise interest rates to cool-off inflation, macro-economic growth projections have come-down. Moreover, the majority of S&P 500 companies having reported their quarterly earnings are showing falling earnings growth. The S&P 500 posted an 8,8% decline for the month. A tight oil market led to a further increase in the price of Brent from $ 107.91 to $ 109.34. The energy equity market segment was able to gain. Within shipping product tanker rates have increased by another 85% (MRs) and 140% (LRs) on a month-on-month basis. Capesize-rates were hovering around $15k/day. The SCFI Index (Shanghai Containerized Freight Index) came down by 5% from 4 weeks ago. LNGC Spot rates have increased from $ 41k/day to $ 48k/day. Within transportation the aviation equity segment was mixed. The overall fund performance was positive. Short positions have in aggregate contributed positively.
For more information you can find our latest Fact Sheet – April 2022.
Seahawk Investments GmbH
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