In the fine wine market, a product that has long sat somewhere on the commodity-luxury good continuum, demand has been healthy as Asian and Western consumers drink more and more Burgundy; supply of Burgundy, meanwhile, cannot catch up. In the feature article of this issue, we sit down with Patrick Stella, founder of WineCredit, to discuss the extent to which wine is investable and shifting sources of demand and value in the market.
Also in this issue, Max Schlubach looks at the U.S. trucking industry, which is facing rising demand amid zero excess capacity – trucking rates have increased 50% year over year in many cases. As power demand rises in Latin America, countries are being forced to make large investments in electricity generation and enhanced grid infrastructure, as Anna Pearson discusses in another article covering a rising emphasis on renewable energy in the region. Finally, in his article on the new NAFTA – the U.S.-Mexico-Canada Agreement, or USMCA – Jay Foraker brings us up to the geopolitical level, where the Trump administration’s restructuring of existing trade agreements may redraw historical trading patterns and could increase prices for certain internationally traded goods and services in the process.
Brown Brothers Harriman & Co. (“BBH”) may be used as a generic term to reference the company as a whole and/or its various subsidiaries generally. This material and any products or services may be issued or provided in multiple jurisdictions by duly authorized and regulated subsidiaries.This material is for general information and reference purposes only and does not constitute legal, tax or investment advice and is not intended as an offer to sell, or a solicitation to buy securities, services or investment products. Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code, or other applicable tax regimes, or for promotion, marketing or recommendation to third parties. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed, and reliance should not be placed on the information presented. This material may not be reproduced, copied or transmitted, or any of the content disclosed to third parties, without the permission of BBH. All trademarks and service marks included are the property of BBH or their respective owners.© Brown Brothers Harriman & Co. 2020. All rights reserved. PB-03793-2020-07-13