Macro-Industry Strategy: Global Views Update
We have not made any changes to our Macro-Industry Strategy Table in the past week and maintain our Bullish North American Palladium view, which we are playing via Stillwater Mining and is up by 1.5% since late March. This week we also explore ways to play the recovery in the US solar market and revisit a Vietnamese infrastructure view that we flagged up back in February.
Our Bullish North American Palladium view, proxied via Stillwater Mining continues to play out and is up 1.5% since we initiated it on March 19, outperforming the S&P 500 which is up by 0.4% over the same period. We believe that palladium producers in North America will benefit from a combination of strong demand - particularly from the autos sector - and ongoing supply-side concerns emanating from both South Africa and Russia, which are the two largest palladium producing countries.
Upside Potential For US Solar
|Still Hanging In There|
|US - Stillwater Mining Equity, US$|