Twelve Capital Event Update

Hurricane situation

We are through the majority of the hurricane season on a historical climatological basis, with the official end date being 30 November. There is a region in the Caribbean Sea that has a 60% probability of forming into a cyclone over the next seven days. The current consensus is that this development will occur over the weekend or early next week. Additionally, two other areas in the Atlantic have a slight probability of developing into a storm in the coming week.

In the Pacific, Typhoon Kong-Rey made landfall on the east coast of Taiwan yesterday as a Category 3 storm. It is currently off of the coast of mainland China as a tropical storm, moving in an easterly direction away from the coast and likely towards Japan. There is a possibility that the tropical storm may go over southern Japan, but it is not expected to cause any impact to Twelve Capital’s positions.