Commodities: Gold at $1318, WTI Oil at $59.83, Both up more than 1%
Currencies: GBP weaker following the PM writing to Eurozone applying for an extension yesterday. A rally in GBP only likely if the PM gets her deal through; right now with the PM’s late night speech, a NoDeal is back on the table as being a possibility and GBP reflects that. USD weaker.
Equities: FTSE 7291, Dow 25,745. Both down 0.5%.
I0 year Govt Yields: US 2.53, Germany 0.08, UK 1.16, France 0.46, Italy 2.53, Japan -0.04
Fed Chairman now sees NO rate rises in 2019 and Treasury yields fell to the lowest in the past year.
(But at a cost-see below) In case you missed this statistic: last Saturday was the EIGHTEENTH consecutive Saturday that Les Gilets Jaunes demonstrated in Paris marking this by burning down a restaurant, causing much damage by rioting in the Champs Elysees and not showing much sign of changing their plans for this coming Saturday. All this within a couple of hundred metres of the Elysees Palace, home to Le President himself, Emanuel Macron-surely just a little embarrassed by his ineffectualness to stem the hurt to the capital and its inhabitants? Still at least Eurostar is working….uh oh …..!
The 10 Most expensive Cities in the World
If you are an ex pat living in one of the world’s ten most expensive cities, you probably know how expensive your chosen city is already. Interesting though to see how those cities stack up. Here is the list and of course as with all statistics, when the list says the top 10, there are of course 11!
1= Singapore, Paris, Hong Kong
4= Zurich
5= Geneva, Osaka
7= Seoul, Copenhagen, New York
10= Tel Aviv, Los Angeles
Discussion and Analysis by Humphrey Percy, Chairman and Founder
Japan Some of the market’s Great Minds spent yesterday afternoon debating whether Japan could get away with raising interest rates at the same time as the Central Banks from the other major markets are starting to cut their interest rates. In short, Japan can and probably will, since its monetary policy has been effectively in […]
Rather you than me, Christine As we and the market alike have been speaking about recently, Eurozone rates are all the rage. As we highlighted yesterday, the path for rate cuts next year has already captivated the market with easing being forecasted as early as Q1 2024. As we approach the Christmas period, we must […]
European Interest Rates More momentum on rate cuts in the Eurozone as expectations grew for cuts starting in March and totalling 140bps in 2024. Equally in the UK cuts of 130bps starting in June are being pencilled in to market calendars. What this means is that GBP/EUR is looking more than especially good value at […]