The market has been held hostage by surging rates. Zombie companies are “alive” and are multiplying – they are highly sensitive to surging borrowing costs. Underweight Utilities to reduce portfolio duration. Maintain neutral…
Overweight The niche S&P containers & packaging index is often flying below investors’ radars, but an upbeat global macro picture suggests that an overweight stance is warranted. These neglected materials stocks…
Highlights Portfolio Strategy Rising demand for packaging materials, increasing industry pricing power along with compelling relative valuations signal that ignored containers and packaging stocks are a hidden gem within the S&P…
Overweight The S&P containers & packaging index has been outperforming so far this year after its largest constituent stocks handily beat earnings estimates in this past quarter. Encouragingly, relative performance…
Overweight As trade tensions have eased in recent weeks, we have seen a broad based recovery in trade-oriented stocks. One notable exception is the S&P containers & packaging index which has failed to rally with its peers. This…
Overweight The S&P containers & packaging index has been recovering in the past few sessions. This follows being caught in the downdraft all global trade-exposed stocks have been reeling from; now fears of a generalized trade…
Overweight The S&P containers & packaging index has been underperforming since the beginning of the year as the spiking input costs of last year materialized in soft Q4 earnings, compounded by fears over a trade war. However,…
Overweight After a very healthy start to the year, the S&P containers & packaging index has fallen back to where it started. Worries over hydrocarbon input prices, driven by hurricane-related supply constraints, combined with…
Overweight A neglected aspect of the catastrophe of Hurricane Harvey was the shutdown of nearly 40% of ethylene production, the key ingredient in plastics packaging for foodstuffs, still the largest customer for the containers &…
Highlights Portfolio Strategy Reviving global trade and an enticing domestic operating backdrop mean that, after a 5-month hiatus, it is once again time to ride the rails. Even a modest reacceleration in global export volumes and…