Global Matters Weekly – 14 December 2020

Scotched eggs

by Alex Harvey, CFA
When I was a kid, the concept of wolves being dangerous, aggressive animals was instilled in me: they growl, they stalk, they kill. Yet, have you ever heard spine-tingling howls breaking through the night? It is primordially majestic. As I grew up, I found myself seeing wolves as fascinating, widely misunderstood creatures. I had to find my own pack.

Wolves work together to hunt for food, protect their territory and expand their reach. United they stand, divided they fall. Led by two alphas, they know they are only as strong as the weakest of them. Also, they have a set social structure and rules by which each wolf has its own function but everyone, including the alphas themselves, takes care of and raises the pups. It’s all about the team.

Market Snapshot

  • Global equity markets returned -0.7% last week as lockdown measures escalate in key markets.
  • The US is to begin administrating the Pfizer/BioNTech vaccine imminently as daily deaths top 3000.
  • Brent crude oil rose +1.5% to $49.9 a barrel.
  • Gold rose +0.1% to $1839.9 per ounce