Skip to main content

Will thanksgiving be postponed for traders?

Capital market are going through a rough spot right now.  earlier this morning the Dow was down 120 points -- its only down 78 right now.  Europe continues to scare the crap out of everyone, and now the Feds have mandated 30 US financial institutions to conduct further stress test -- that assume rather cataclysmic breakdown:  Unemployment over 13%, European GDP 6.9% collapse.

The banks are not too keen since they don't know if that will set their minimum capital level.  Anyway, another difficult week for the market.  The German had a terrible bond auction this morning (nearly 40% of the issuance was withdrawn -- for lack of buyers).  Contagion is spreading, France, Belgium bond markets are now suffering too.

Rumors of a tighter core Europe is emerging with France and Germany (Maybe Benelux), but excluding just about everyone else.  Finally, China's PMI number this morning was terrible at 48 -- below 50 means contraction.  Suddenly the risk of hard landing is becoming more real for China (I have no idea how commentators who think that OECD governments are a bunch of dunce unable to find their asses with two hands give some much credit to the Chinese authorities... wonders never cease).

Anyway, I suspect that some no so junior traders will be at their desk Friday - foregoing the family turkey

Comments

Post a Comment

Popular posts from this blog

Spray painting Taylor Swift G650 aircraft (updated)

 First, a bit of paint will not harm anyone.  These climate activities are going to learn two things in the next few days:  (1) Trespassing at an airport is a felony almost anywhere in the world.  That means criminal prosecution.   (2) removing paint from an aircraft is expensive.   So these climate activists are about to find out the reach of the British criminal system and it will not be pleasant, the UK has very strict laws about that, I would be surprised if cleaning the aircraft of all the paint will cost less than $100,000.     I am sure that when they planned (premeditation) this little show they had a very valid logic to doing this.  Tonight, they are probably realizing the depth of their troubles.   I understand that in the UK it's a minimum one-year jail sentence.    Also, good luck travelling with a criminal trespass charge against you.  I am relatively certain that the airline industry will ...
Post a Comment
Read more

Farm; Half year performance

 People appear to be genuinely curious. 2024 has been a record first half for the farm.  The addition of high tunnels has greatly impacted our revenues.   While we expected Q1 profits to be higher, it really was the second quarter that produced the goods.  The terrible weather has greatly impacted the production of high-end vegetables. Energy costs are now very stable and have become a fixed variable especially now that our bio digesters are fully dialled in.   Replacing some of our pre-dryer equipment was covered under warranty, and the new equipment is far better at dealing with gas moisture, and much better steel!   Our diesel costs are what they are! Our biologist and ecologist devised a new planting plan for our high tunnels that greatly reduced pests, especially slugs.   We have seen a 90% decline in sluggs this year, resulting in better yields.   It seems that several plants act as natural repelants and if planted c...
Post a Comment
Read more

Britain, France and Egypt

 The voters realize now that the Conservative Praty desire to return to 19th-century dominance has driven its hatred of the EU.  The voters realize now that departure from the EU has accelerated Britain's decline and may soon make it irrelevant.  At best it will have to kiss American arses to maintain its standing.  For this, the conservatives were punished.  The decline of Britain was inevitable, competition from Frankfurt and Germany in Finance was bound to grow.  The core of Europe (aka Germany) is aging quickly Macron seems to be winning his bet, the left alliance that won the legislative elections will not remain united for long, since they disagree on about everything.   The Far right though it was about to assume power is once again relegated to the back of the bus.   It may draw its own conclusions, but not all of these are good for France.  The far-right has won nearly 1/3rd of the electorate, that is not something to be ig...
Post a Comment
Read more