Most major equity market indices were flat during the month of May. Equity markets have shown further weakness during the first three weeks but were able to recover during the last week of the month. The US Consumer Price and Producer Price Index have shown significant price increases of 8.3% (YoY) and 11.0% (YoY) respectively. Weak consumer demand had a negative impact on retail profits. A tight oil market led to a further increase in the price of Brent from $ 109.34 to $ 122.84 by month end. The energy equity market segment was able to gain. Within shipping MR product tanker rates have furtherer strengthened by another +27% (MRs). Capesize-rates increased to around $29k/day. LNGC Spot rates increased $ 48k/day to $ 89k /day. The LPG market has further strengthened with VLGC spot rates increasing from $38k/day to $48k/day. Within transportation the aviation equity segment was weak. The overall fund performance was positive. Short positions have in aggregate contributed negatively.
For more information you can find our latest Fact Sheet – May 2022.
Seahawk Investments GmbH
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