Tantallon Asia Impact Fund Report, December 2024
The Tantallon Asia Impact Fund closed down -2.49% in December (+17.72% for the calendar year) with the Fed signaling that persistent inflationary expectations are likely to limit the ability to ease into and through 2025, the re-set in US$/yield curve expectations weighing heavily on non-US markets already struggling to come to terms with Trump’s re-election and tariff threats and simmering geo-political tension, yet more disappointment with policy obduracy in China, and just to tie a ribbon around market ‘chaos,’ a failed attempt to impose martial law in South Korea! Go figure.