News and Commentaries

2017-04-21 Syria Air Attack Impact on Oil and Energy Sector
Oil prices reached a one month high on April 7, Friday, right after the United States fired 59 Tomhawk cruise missiles at the Shayrat airfield in Syria. Brent crude futures, the international benchmark for oil, rose two percent to $56.08 per barrel before settling almost flat at $54.95 per barrel. View Article
2017-03-13 How Will Fed’s March Rate Hike Affect US Market
As passed by Yellen and some other FOMC members’ speeches in early March and good signal in February employment data published on Mar 10, US and even global markets have already priced in Fed’s March rate hike. View Article
2017-02-21 US Market Volatility Forecast
A former TV star as U.S. president doesn’t seem to have injected markets with much of a ‘‘fear factor.’’ But digging beneath the surface of an eight-year bull run exposes subtle signs that hint at an uneasy optimism. View Article
Quarterly Reports

2018-05-17 Golden Horse Fund Management 2018 1st Quarter Report
>More recently, Trump reaffirmed his stance by asking his administration to consider $100 billion in Chinese goods which we think that China is likely to weight an equal response towards the US. There will be some economic impact on China and US. Both consumer and producer prices will increase, with the effect felt more strongly in US and less so in China due to a structural change towards domestic consumption in China in recent years. View Article
2018-03-15 Golden Horse Fund Management 2017 4th Quarter Report
In the US, key economic indicators and boost from tax reform lead to the anticipation of the current solid growth heading into 2018 and possibly 2019. View Article
2017-11-16 Golden Horse Fund Management 2017 3rd Quarter Report
In the US, the controversy that followed the violent events in August’s Charlottesville served to increase political disarray in the Trump administration. Nevertheless, the US economy continued to demonstrate solid growth, reducing the risk of an imminent deceleration. View Article
2017-07-14 Golden Horse Fund Management 2017 2nd Quarter Report
The Fed was finally able to start following through on its projected rate hike path, raising rates twice in March and June 2017 respectively. View Article
2017-04-17 Golden Horse Fund Management 2017 1st Quarter Report
The appeal of U.S. equities remained in Q1, as the Trump rally was in a fine motion except for some occasional jitters. The S&P 500 added 5.53% in the last three months as of March 31, 2017. View Article
2017-01-19 Golden Horse Fund Management 2016 4th Quarter Report
Equity markets opened the year with a harrowing January, and took a few months to stabilize. In June, the results of the Brexit referendum in the UK shocked the financial markets. In November, the win by Trump in the US presidential election was followed by a rally in equities but a capitulation in bond markets. View Article
2016-10-31 Golden Horse Fund Management 2016 3rd Quarter Report
In the third quarter of 2016, global market is still reeling from the aftermath of Brexit and global central banks’ loose monetary policy. According to our long term economy condition judgement, market has maintained its upward momentum as S&P 500 index is above its long term average. View Article