Trooper’s hit from the 1970s could be the theme song for the current political and economic state of affairs. On one side you have the US-China trade war, Trump Impeachment proceedings, BREXIT, a slowing German economy, the Federal election in Canada (honorable mention), low commodity prices, and slowing US industrial activity (see US-China trade war). On the other side, sits the S&P 500 Index at an alltime high, supported by the US consumer which is still in very good shape due to all-time low unemployment and, despite a recent drop (see US-China trade war), robust consumer sentiment.

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Lysander Fulcra Fund Commentary: Q3 2019