Twelve Capital Event Update

icn-dark-hurricane5 September 2022

The first two weeks of September are the peak of the Hurricane season, and in the past five days a number of disturbances and storms have formed breaking the dry spell of the past couple of months.

Hurricane Danielle formed, and has stayed, in the middle of the Atlantic where it is travelling east-wards. It is due to pass ca. 1,000km north of the Azores in the coming days before weakening and continuing towards the UK and Continental Europe as a depression.

Tropical Storm Earl is currently ca. 150km north of Puerto Rico and is predicted to travel north for a number of days before then turning east and back out into the Atlantic Ocean. It is due to strengthen into a Category 1 (potentially Category 2 storm) in the coming days, and its path may cross with Bermuda.

Currently there are no other active storms in the Atlantic Basin, but there is a large area off of the coast of Africa which is conducive to storm development in the coming days.

Outside of the Atlantic Basin we are seeing some other activity. Tropical Storm Kay is ca. 500km west of Acapulco, Mexico and due to strengthen as it travels north over the coming days, it is too early to tell if it will make landfall in western Mexico and/or Southern California. In addition, there is activity in the Pacific with Typhoon Hinnamnor as a Category 3 storm in the middle of the East China Sea with a projected path that will take it over Busan, South Korea.

None of the current events are predicted to impact any Twelve Capital positions but Twelve Capital continues to closely monitor any catastrophe events and will issue specific updates on any relevant new major events that occur.