Daily Brief – Markets Round Up

Markets Round Up

After a week of plenty of jaw jaw from Federal Reserve governors on the need to crush inflation, US Treasury Bond yields well through 5% except in the 2 years where they are nudging 4.90% and strong economic data in the US, on Friday the USD gave back a small amount of its more than 2% gain over the week. GBP and EUR consequently recovered a bit and Oil dropped back. The US-China Summit at the time of writing seems to have been more of an exercise in style over substance with little to nothing emerging other than platitudes.

GBP/USD 1.3247.

Torcal

This is the new entry level EV model in Bentley’s range- NB neither we nor they would describe it as being cheap as it costs GBP 173K or €202K, but it is the least expensive in the Bentley line up. The name has a dual reference: firstly, torque which is important for certain kinds of drivers as it implies sportiness and power as well as twisting. Secondly Torcal is a direct play for Torcal de Antequera a nature reserve in Andalusia Spain. Why? Bentley likes naming its cars after dramatic extraordinary places and TdA is just that: dramatic limestone formations and a million year old landscape. More than enough there to attract well-heeled Bentley punters.

Brent Oil USD 104.32.

Global Reserves by Currency

Always good in these days of questioning the supremacy of USD to look at where the world keeps its reserves. USD counts for 57%, Euro 20%, JPY 5% and GBP4%. CAD, AUD, CHF and CNY collectively add up to less than 7%.

EUR/USD 1.1391.

National Giant Vegetables Championship UK

No less than 7 world records broken at the keenly fought Malvern Show veg growing fest that is the National Giant Vegetables Championship amid some notable feats: Aubergine 3.95kg; Onion 7.97kg; Leek 8.4kg and Beetroot 21.88kg. As for the Marrow: 36.43kg not to mention the Squash at 279.5kg.

EUR/GBP 0.8594.

Barbra Streisand: Evergreen

It was of course this day 26 years ago in 2000 that BS announced her retirement at the self-billed farewell concert at NYC’s Madison Square Garden. 118 singles, 36 studio albums, 12 compilations, 11 live albums and 15 soundtracks were in fact insufficient for the diva and Barbra rapidly rescinded her retirement and went on to both perform for many years and to announce successively several other farewells.

Love soft as an easy chair
Love fresh as the morning air
One love that is shared by two
I have found with you
Like a rose under the april snow
I was always certain love would grow
Love ageless and evergreen
Seldom seen by two
You and I will make each night a first
Every day a beginning
Spirits rise and their dance is unrehearsed
They warm and excite us, cause we have the brightest love
Two lives that shine as one
Morning glory and midnight sun
Time weve learned to sail above
Time wont change the meaning of one love
Ageless and ever evergreen

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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