Simon Shares

• PGMs are on the move, most notably palladium and rhodium.
• Oil also still moving, remember the ETN for that.
• Cashbuild (JSE code: CSB) update shows the pandemic home improvement boom is over.
• ArcelorMittal South Africa (JSE code: ACL) update sees them into profit and on a PE of under 2x.
• Steinhoff (JSE code: SNH) settlement approved, but still lots of debt.

Markets are spooked

• Lots to be spooked by;
  • FOMC, it's all happening in March
  • Asset purchases are also to end in March, but what of the US$9trillion of bonds the Fed holds?
  • Valuations are high.
  • Rates are rising.
  • Inflation is at decade highs.
• Value winning over growth for the first time in an age.

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