Asset Allocation: Stick with Ni/Li but reduce risk
It’s been a difficult 2022 so far for traders but it’s definitely been a worse last two weeks, with Russia’s invasion of Ukraine causing equity markets to flip flop all over the place. The VIX measure of volatility is at elevated levels (33.6) as we write and looks certain to move higher, although it’s still some way off the levels of 80 seen in the first Covid wave and the GFC. As we noted on the previous page, the macro situation doesn’t look great and that makes the equity market outlook a concern. So far the battery materials space has...