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Welcome to the Systematic Investor Series.

Welcome or welcome back to this week's edition of the Systematic Investor Series with Graham Robertson and I, Neil's Castro-Blaston, where each week we take the pulse of the global market through the lens of a rules-based investor.

Graham, it is wonderful to have you back this week. How are things in London?

Niels, great to be back. Yeah, it's, I guess, classic London, December at the moment. It's a bit grey. It's a bit drizzly. I'm looking forward to taking a bit of time off and hopefully a bit

of sunshine. Yeah, no, absolutely. I think we all do. We've got a really good lineup of question thanks to you and topics that we're

going to be discussing today. But first of all, I always love to hear what you have on your,

or have had on your radar the last few weeks. So let's dive into that first. Yeah, absolutely.

I mean, I guess what's been on most investors' minds in the last couple of weeks has been what's been going on in the US and the President-elect.

Its effect on trendfling, I guess.

We'll talk, I think, a fair bit about the US and the dollar and US stocks today, but really that's

been the interesting thing. In particular, I would say what was fascinating to me was just

what was happening in bonds globally before the election came out. Bonn yields going higher,

bonds selling off. So I think in general, trend followers were somewhat well positioned for that happening and the Trump trade has been okay.

But you know, you look at what's been drawing returns. It's just astonishing how much the US comes across, whether it's the dollar, whether it's U.S. stock indices, whether it's bonds.

It's just key to what's going on, both in trend

following, I guess, in markets in general, right?

No, I completely agree. What's interesting about it, in my opinion, is that I think before the

election, maybe in the first few days after the election, I think investors, if we just look at

the markets, had a pretty clear idea as to

what should happen or what will happen with inflation and rates and so on and so forth.

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