Asks how high/long oil must stay to cause US market re-rating.
Haslinda Amin
Christopher Wood
Short-term positive for US market relative to energy importers; but if conflict lasts all year and damages global GDP, best equity market is Chinese mainland.
Asks if buy China dip and what's attractive.
Haslinda Amin
Christopher Wood
Chinese market in slow bull market; government preventing boom-bust via dividend/buyback pressure, IPO supply control.
Christopher Wood
China CPI/PPI improving; Iran conflict could push PPI positive, seen as bullish ending deflation.
Asks how to hedge stagflation if oil stays >$100.
Haslinda Amin
Christopher Wood
Best hedge: Chinese stocks and energy stocks. Gold in consolidation (didn't make new high on conflict), range $4.5-5.5k.
Asks if hold more gold.
Haslinda Amin
Christopher Wood
Long-term gold can go higher; central banks hold more gold than Treasuries, moving to de facto gold standard.
Asks where markets should be if risks priced.
Haslinda Amin
Christopher Wood
VIX well below pandemic/taper tantrum levels; could spike if conflict worsens.
Asks if high oil forces Fed tightening.
Haslinda Amin
Christopher Wood
More important is Treasury market behavior; if well-behaved, Fed not forced. BOJ is key central bank now—behind curve, should have hiked.
Asks about capital rotation from Taiwan/Korea to India.
Haslinda Amin
Christopher Wood
Rotation to India only when semiconductor stocks peak; relative outperformance of Taiwan/Korea may have peaked.
Asks about India rupee weakness, sentiment.
Haslinda Amin
Christopher Wood
Rupee weakening was mistake; hurt corporates, spurred gold imports. Middle East conflict double whammy. No hurry to rotate into India until semiconductor peak.