Today the UK and New York will near the end of their second week of lockdown, as France and Italy approach their 4th and 5th weeks respectively. While we may be stuck inside, consumer sentiment towards wine and spirits has remained intact. The market saw a decrease in the value traded in March but a record amount of trade volume.
Sterling has seen a turnaround since the US Federal Reserve announced mid-way through March they would be injecting billions of dollars of liquidity into the global economy. In a sizeable downward move, the Fine Wine 50 decreased by 2.15% in March. The last time the index fell this much in a single month was in May 2014, towards the end of the bear market that followed the 2011 peak.
Three First Growths made the Top 5 share of trade by value this month, joined by wines from the Southern Rhone and Burgundy. France dominated trade this week, taking the top 10 spots. While Bordeaux’s (45.9%) share remained flat, Burgundy’s (12.5%) grew, helped by an increase of trade in its white wines.
The USA appears to have found its mark, holding steady at 5% of trade. Similarly, Italy (11.8%) is consistently maintaining its double-digit share.
The wine of the vintage (Liv-ex survey) Lafite Rothschild 2018 made its way into the Top 5. It was given a barrel score of 98-100 by Lisa Perrotti-Brown and 99-100 points by James Suckling. Perotti-Brown exclaimed, “If this wine doesn’t get Bordeaux lovers hearts’ racing, nothing will”.
Liv-ex 100 and Liv-ex 1000
March was a topsy-turvy month for financial markets and the Liv-ex indices were no different. The Liv-ex 100 and Liv-ex 1000 both declined, although only marginally at 1.06% and 1.35% respectively. The indices have held their ground in an astonishingly unpredictable market.
Bordeaux 2019
Our latest report, Bordeaux 2019: the value of time, has been published. The report contains 25 pages of in-depth analysis and examines the Bordeaux market in light of the recently announced En Primeur postponement.
