Author — Martin Young, CEO of Farringdon Asset Management

Global Macro Review

• Major markets declined while silver and gold prices rallied.

• FTSE 100 dip from a 10-month high as oil prices dipped.

• Gold valuations rallied to a record high while silver prices also rallied up from USD 22.

US Markets

• Inflation remained sticky with data showing inflation ticked up to 3.4%
• The fed is looking at higher for longer interest rate to combat interest rate.
• There is indication that the FED will not cut interest rate in April or May.
• Current market expectations for the Fed to cut interest rate is from June.

News on Middle Eastern War

• Iran struck Israel with drones on Sunday.
• However, most drones were shot down by UK and US army before reaching Israel.
• This should not have a big impact on markets but may escalate the tension between Iran and Israel.

Farringdon View On the Semi-conductor Market

• The current market correction has nothing to do with interest rate cuts but more of other micro factors.
• Prices of precious metals usually increases at the end of rate hike cycle.
• Market has not reacted badly to news.

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Farringdon Capital Ltd is incorporated in the Dubai International Financial Centre (DIFC) under number 4190, and regulated by the Dubai Financial Services Authority (DFSA).

The information contained in this document is for information only and should not be taken as a recommendation to buy or sell. Investors are reminded that past performance is no indication of future performance.