{"id":559996,"date":"2021-02-11T03:50:52","date_gmt":"2021-02-11T03:50:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/what-were-tracking-on-11-february-2021\/"},"modified":"2021-02-11T03:50:52","modified_gmt":"2021-02-11T03:50:52","slug":"what-were-tracking-on-11-february-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/11\/what-were-tracking-on-11-february-2021\/","title":{"rendered":"What we\u2019re tracking on 11 February 2021"},"content":{"rendered":"

Good morning, friends. <\/strong>We made it through another workweek together.<\/p>\n

Anyone else find it a bit \u2026 surreal? \u2026 to think that it\u2019s the 10-year anniversary of Hosni <\/strong>Mubarak\u2019s resignation<\/strong>, which followed 18 days of protest back in 2011?<\/p>\n

THE BIG STORY at home this morning <\/strong>is Banque Misr\u2019s announcement yesterday that it was launching a bit to acquire up to 90% of CI Capital, a leading investment bank and non-bank financial services house. Banque Misr now owns nearly 25% of CI and launched a tender offer yesterday afternoon at a slight premium to where the shares are trading. We had the story in yesterday\u2019s EnterprisePM<\/a>.<\/p>\n

THE BIG STORY in the global business press: <\/strong>\u201cGraphic\u201d video footage, much of it \u201cpreviously unseen,\u201d of the 6 January storming of the Capitol in Washington leads the front pages of the Wall Street Journal<\/a>, Financial Times<\/a> and New York Times<\/a>. The footage was presented by Democrats prosecuting Agent Orange at his trial yesterday. You can catch it at the top of this New York Times story<\/a>.<\/p>\n

But there are two sleeper stories to which you really need to pay attention<\/strong> as they could be setting up new themes for the coming weeks or more:<\/p>\n

*** Sleeper story #1- We may be on the on-ramp to a new commodities \u201csupercycle\u201d<\/strong> in which everything from agricultural output, metals and oil go on a years-long rally. Goldman<\/a>Sachs<\/a> and Bank of America think we\u2019re probably heading in that direction, but a group of top JPMorgan analysts called it loudest yesterday. The last cycle ended in 2008 after a 12-year run<\/strong> and was largely driven by the rise of China.<\/p>\n

What\u2019s driving the cycle? <\/strong>Pundits are hanging their hats on a strong global recovery from the pandemic. They\u2019re also hedging against inflation, but the big twist that looks set to make the supercycle last is the war against climate change, which could \u201cconstrain oil supplies while boosting demand for metals needed to build renewable energy infrastructure, batteries and electric vehicles.\u201d Throw in population growth and continued wealth formation in emerging markets\u2026 Bloomberg<\/a> and the Financial Times<\/a> have the story, while the Financial Post brings the cold water to the party, suggesting the rally may only last for two years<\/a>.<\/p>\n

*** Sleeper story #2 is probably the WSJ\u2019s exclusive on Iran<\/strong>, which could ramp up tensions to our east. The paper claims Tehran has made uranium metal in breach of its nuclear accords. Uranium metal \u201ccan be used to form the core of nuclear weapons,\u201d the Journal writes<\/a>, suggesting Iran may have gone down that route in a bid to force the Biden administration to lift sanctions.<\/p>\n

<\/a> CATCH UP QUICK\u2013 The top stories from yesterday\u2019s edition of EnterprisePM:<\/strong><\/p>\n