Despite showing a gain to above JPY 106, USD was at a 3 year low yesterday as the commodity currencies such as the AUD and CAD benefited, as did the EUR posting $1.2230. Copper traded at $9,500 a ton its highest in 10 years and 10 year USTreasuries yielded 1.46%.
It was South Korea’s Kospi that set a blistering pace with a gain of over 3% yesterday followed by the Nikki with 1.67% and the Hang Seng with 1.2%. As the end of the UK tax year approaches in just over a month, those reviewing their pensions and investments would do well to look at those Asian markets. While not all those Asian economies are uniformly attractive, nevertheless looking at China and the Greater China dependant economies plus the commodity economies such as Australia, if one subscribes to the view of a healthier global economy in 2021, there has to be a place for a decent amount of Asia in everyone’s portfolio. And this morning…oh dear, all those gains given back, but on the other hand those markets now cheaper for bargain hunting buyers!
One makes high quality sports clothing and one makes high quality electronic consumer goods; both are of course American. The difference lies in their treatment of customers and especially when there are issues with their products. One has a well oiled machine with its customer interface and the other said: you can make a complaint if you like, but it will be ignored. The first concerned some Goretex gloves (GBP40) that had faulty stitching and the second was in respect of its recently acquired Dr Dre trademark and its top of the range Powerbeats(GBP 222) that failed to re-charge. Moral of the story: when a very large company like Apple loses touch with its original mission regarding customers, consumers need a viable alternative. For me it will be Bose-great service and GBP179.
It was this day in 1997 that Eric Clapton won the Best Male pop category at the 39th Grammy Awards. EC has done good-at the last count worth over USD 450 million and still enjoying playing almost 50 years on from his debut in 1962. This song made it into the top 40 in 20 countries and was in the Billboard Hot 100 for 43 weeks. Here is Change the World:
If I could reach the stars
I’d pull one down for you
Shine it on my heart
So you could see the truth
That this love I have inside
Is everything it seems
But for now I find
It’s only in my dreams
That I can
Change the world
I would be the sunlight in your universe
You would think my love was really something good
Baby if I could
Change the world
If I could be king
Even for a day
I’d take you as my queen
I’d have it no other way
And our love would rule
In this kingdom that we had made
’til then i’ll be a fool
Wishing for a day
That I can
Change the world
I would be the sunlight in your universe
You would think my love was really something good
Baby if I could
Change the world
Have a Great Weekend!
Discussion and Analysis by Humphrey Percy, Chairman and Founder
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