Unsurprisingly there is little to report from over the holiday period, but here is a round up of the key developments in bullet point form for those of you who are interested in what is happening in the world outside the Christmas bubble:
Oil: WTI trading at $73.76 a one month high on the back of hopes that the virus will be less virulent and that the world will start 2022 at work rather than at home.
Evergrande: shares up 8% on the news that work at some projects has recommenced. If Evergrande is restructured effectively, that would be positive for both China’s and the global economies.
S&P500
Almost reached the all time high before falling back in late trading to 4,725- underpinning the hoped for Santa Rally.
Back in 1851 on this day the first Young Men’s Christian Association opened in Boston, Massachusetts, USA. Village People released this gem in 1978 which was somewhat of a departure from the original foundation principles of the Association. Here it is:
Young man, there’s need to feel down.
I said, young man, pick yourself off the ground.
I said young man cause your in a new town
There’s no need to be unhappy.
Young man, there’s a place you can go
I said, young man, when you’re short on your dough.
You can stay there, and I’m sure you will find
Many ways to have a good time.
Its fun to stay at the Y.M.C.A
Its fun to stay at the Y.M.C.A
They have everything for you men to enjoy,
You can hang out with all the boys …
Its fun to stay at the Y.M.C.A
Its fun to stay at the Y.M.C.A
You can get your self clean, you can have a good meal,
You can do whatever you feel …
Young man, are you listening to me?
I said, young man, what do you want to be?
I said, young man, you can make real your dreams.
But you got to know this one thing!
No man does it all by himself.
I said, young man, put your pride on the shelf,
And just go there, to the Y.M.C.A
I’m sure they can help you today.
Its fun to stay at the Y.M.C.A
Its fun to stay at the Y.M.C.A
And now… back to the mince pies!!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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