Our pick last week, Revolve Group Inc. (NYSE: RVLV), went from US$73.43 on Monday, to a high of US$75.47 on Friday (up 2.8%). FB is making this list for the second time in the past three weeks.

Global equity markets were up 0.5% last week (2.5% in the previous week). The U.S. Fed is meeting this week, and the market expects tapering to commence this month. Manufacturing activities were contracted in both China and the U.S. last month (see chart below). Considering the weakness in key economic indicators, we believe rate hikes will be slower than market expectations, which will support both equity and commodity prices in the near term.

Commodity prices pulled back last week, amid a stronger US$. Inventory levels of base metals increased on the SHFE (Shanghai), but declined on the LME. We continue to believe that supply chain disruptions will support commodity prices in the near-term.

We are expecting dovish comments from the Fed this week, which will be positive for gold/silver prices. We are maintaining our price forecasts.

Bitcoin’s trading volume was up 24% WoW – this is very positive for crypto exchanges as their revenue is directly correlated to the trading volume of cryptos.


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