Twelve Capital Event Update – 13 September 2021

Tropical Storm Nicholas

This storm formed over the weekend in the western Gulf and is predicted to make landfall along the Texas coast between Corpus Christi and Houston, later today. Projections have it remaining at tropical storm strength for the next two to three days as it travels through Texas before weakening and dissipating, consequently Twelve does not foresee any impact to fund positions.

Atlantic Activity

There are currently no other storms on the water, but there are a number of disturbances across the Atlantic that Twelve continues to monitor, as some are predicted to transition into cyclones within the next few days. The disturbance in the western Atlantic has a projected path taking it between Bermuda and east coast US, whilst another on the western coast of Africa will begin its journey out into the Atlantic over the coming days.

Typhoon Chanthu

Over the weekend, a category 5 storm approached the island of Taiwan. Fortunately it took an easterly path and did not make landfall, but did impact Taiwan with high winds and heavy rainfall. Chanthu travelled north and is currently off the coast of Shanghai as a category 1 storm, its path is projected to take it north-east towards South Korea and Japan as a tropical storm. Given its predicted weakening Twelve does not expect any impact to any Japanese positions.

Twelve Capital continues to closely monitor all events and will issue specific updates when more information becomes available.