The weekly Market Update is posted at Alpha Baskets and includes the following;
It has been a while since we last checked in on the Mexican peso. The dollar has continued to work its way higher against the peso. There was a huge jump in USDMXN (dollar up against the peso) immediately after the election which leveled off for a time before jumping more than 2% last week in the face of several corporate announcements of bringing jobs back from Mexico or not sending them there in the first place. Currency volatility has ramped up in recent months in a way markets have not seen in quite some time. This has the potential to impact other markets as we saw with struggling US multinationals’ earnings reports in 2016 and it also creates a headwind for US investors looking for foreign equity exposure as they are also buying the currency when they buy the foreign stocks.
Please click through to read the entire update.
Old San Francisco Engine 39 parked at an auction house in Palm Springs.
An old Chevy at a car show in Los Angeles
Lifeguard Tower at Zuma Beach in Malibu