Twelve Capital Event Update – 3 August 2020

3 August 2020

Hurricane Situation

Tropical Storm Isaias is currently located by the eastern coast of Florida between Daytona Beach and Jacksonville, and is heading in a north-westerly direction. Its current path is predicted to take it along the eastern seaboard of the United States where it should weaken to a tropical depression on Wednesday, 5 August.

Isaias started as a tropical storm impacting the Dominican Republic, Haiti, and Puerto Rico on Thursday, 30 July, where it then strengthened into a category 1 hurricane on Friday, 31 July before going over the Bahamas. While there have been some reports of damaged roofs, power outages, and flooding, there have not yet been reports of widespread damage. After passing over the Bahamas Isaias weakened into a tropical storm and since Sunday has been skirting the coast of Florida.

There are currently a number of storm surge warnings in Florida, South Carolina, and North Carolina while there are tropical storm conditions present. Given the wind speeds and footprint of Isaias Twelve Capital does not expect any major impact to the portfolios from this event. As this is a live event further monitoring for any changes will continue.

In the Atlantic there is a disturbance a few hundred miles north of the northern Leeward Islands. There is a reasonable probability that this will develop into a depression but current predictions have it staying out in the ocean and stalling towards the end of the week.

As always, Twelve Capital continues to closely monitor any catastrophe events and will issue specific updates on any relevant new major events that occur.

Monday, 3 August 2020