Professional investors can review published thought leadership and market updates from the Argonaut Investment Team.

1 post found for June 2017

‘The Outokumpu moment: was the reflation of 2016 just a one year global economic restock?’

Steel stocks reported the biggest quantum of positive earnings surprise this year but have been amongst the worst stock market performers. Recent data points suggest that steel is on the verge of a global destocking cycle as the effects of China’s 2016 stimulus wear off. Just as last year, improvements in the steel industry heralded a pick-up in global industrial production, we believe these negative developments will result in a wider slowdown. This same stimulus resulted in a turnaround in global…