Morning Brief – Markets Start to the Week

Humphrey Percy
Chairman and Founder
Mon 3 Oct 2022

Markets Start to the Week


After the roiling bond markets last week we start the new week with 10 Year government bond yields as follows: US 3.82, Germany 2.12, Japan 0.24 and UK 4.08. Nymex WTI $79.70 and Gold $1659. EUR/USD 0.98. With OPEC+ mulling a cut in oil production of more than 1 million barrels, these different figures are saying the same thing: the predicted rise in interest rates globally will cause a recession in 2023. Having said that, with all markets experiencing sharp and significant moves, there are opportunities to hedge and protect underlying positions and future cash flows by setting price objectives and underpinning them with protective hedges.


Avian Flu


If the UK did not have enough economically to contend with, there is now a threat to Christmas Dinners with Turkey supplies under threat since avian flu has been detected in 155 sites in the UK and mass culling of turkeys is now taking place. Hopefully this is another example of a sloow Sunday for news so another non story being penned. GBP/USD 1.1160


Nihonshu No Hi


In Japan since 1978 October 1 has been known as Nihonshu No Hi or abroad as International Sake Day. Historically it was in October that the new crop of rice was used to make sake. A bottle of Dassai 23 Junmai Daiginjo will set you back £60 from London Sake. If sake is not for you, there is always Japanese Whisky which is more affordable than it has been for many years. USD/JPY 144.75


Sex Bomb


Just 23 years ago on this day in 1999 Tom Jones stormed the Charts and took the number one spot for the first time for many years with the Reloaded album. Famed for both his long marriage and his legions of female admirers Tom Jones who thanks to his luxuriant barnet (Barnet Fair or hair) was affectionately known as the Woolly Welsh Wombat went on to sell more than 6 million copies of the album. Here is the stand out song:


Aw baby
Yeah, ooh, yeah
Huh, listen to this


Spy on me, baby, use satellite
Infrared to see me move through the night
Ain’t gonna fire, shoot me right
I’m gonna like the way you fight
(And I love the way you fight)


Now you found the secret code I use
To wash away my lonely blues, well
So I can’t deny or lie
‘Cause you’re the only one to make me fly
(You know what you are, you are a)


Sexbomb, sexbomb, yeah, you’re a sexbomb (uh, huh)
You can give it to me when I need to come along (give it to me)
Sexbomb, sexbomb, you’re my sexbomb
And, baby, you can turn me on
Baby you can turn me on
You know what you’re doing to me, don’t you?
I know you do


Now don’t get me wrong, ain’t gonna do you no harm (no)
This bomb’s for lovin’ and you can shoot it far
I’m your main target, come and help me ignite (ow)
Lovestruck, holding you tight (hold me tight, darlin’)




Discussion and Analysis by Humphrey Percy, Chairman and Founder

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