We saw the first big hurricane of the year make landfall in the US today. It won’t be the last as the hurricane season doesn’t peak until September.

The good news is that there are no systems anywhere in the Atlantic that look like they could spin up in the next few days. The bad news comes from Jim Reid at Deutsche Bank who highlights that all of the 10 hottest years were in the past decade, with this year leading the way.

“The forming of a storm and the transition into a
hurricane are complex, but given the link to sea temperatures mentioned above
it is stunning to see today’s chart that shows how much 2024 has deviated from
the pack of global sea temperatures over the last 44 years of data,” Reid writes.

Justin had a great post earlier today about the warming world and some things to consider around that trading theme.

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