Morning Brief – US Employment

US Employment

Markets welcomed the lowest set of jobless claims figures since March 2020. New job creation plus fewer redundancies means that figures are moving well in the right direction. While there are still 17.4 million unemployed in the USA, there is little doubt that the employment market is showing that there is a marked improvement in confidence.

US Capital Gains Tax

The US business community’s enthusiasm for post Trump Bidenomics might just be waking up to what it means: the proposal made last night is to double Capital Gains Tax to 39.6% which together with the tax on investment income could take the total to 43.4%. If accurate that would result in two things: a reduction in investment and a vast increase in tax management ie avoidance. It would also halt the frothy equity markets’ inexorable rise if implemented.

Corton Charlemagne

One of the most prized White Burgundy wines and very much of a treat:  London’s Hedonism Wines will only part with a single bottle of the Coche Dury 2013 Corton Charlemagne when you smack the plastic to the tune of GBP 4,880. Hatton and Edwards have a (slightly) more affordable bottle of the Louis Latour 2003 for GBP 114.

This famous wine is named after a hill in Burgundy called Corton and the Emperor Charlemagne is name checked here for following orders from ‘er in doors, the Empress: the story goes that the luxuriously bearded Charlemagne really loved red wine which tended to stain his white beard, so the Empress insisted on him devoting his efforts to producing a top white wine. Charlemagne lived for almost 65 years and had four wives and a further four concubines who between them bore him 18 children. There were a further number of concubines who did not give him children but were doubtlessly equally enthusiastic connoisseurs of the white wine named after him.

Herman’s Hermits and My Sentimental Friend

Herman’s Hermits were known for being one of many British Invasion Groups  ie they crossed the Atlantic to the USA from the UK to challenge the US music scene in the 1960’s. Their lead singer Peter Noone and the Hermits notched up 10 Number One Hits and one of their very best songs is this one from 1969,

My Sentimental Friend which is so good, it is worth including in full:

On the floor, the people dance around
Moving close together
But there over low, in the corner
There’s the girl I once knew
Who broke me in two

So won’t you please play a song?
A sentimental song
For my sentimental friend over there
We’ve been so long apart
Make it go right to the heart
Of my sentimental friend over there

Bring the tears to her eyes
Help to make her realize
The love we had was just beyond compare
And if the time is right
Maybe I’ll hold her tight
My sentimental friend over there

I recall the way she used to feel
When we heard a sad song
The teardrops would fall
And she’d hold me and tell me
She’d be forever with me

So won’t you please play a song?
A sentimental song
For my sentimental friend over there
We’ve been so long apart
Make it go right to the heart
Of my sentimental friend over there

Bring the tears to her eyes
Help to make her realize
The love we had was just beyond compare
And if the time is right
Maybe I’ll hold her tight
My sentimental friend over there

Oh, won’t you please play a song?
A sentimental song
For my sentimental friend over there
We’ve been so long apart
Make it go right to the heart
Of my sentimental friend over there

Bring the tears to her eyes
Help to make her realize
The love we had was just beyond compare
And if the time is right
Maybe I’ll hold her tight
My sentimental friend over there

Oh, won’t you please play a song?
A sentimental song
For my sentimental friend over there

Have a Great Weekend!

Discussion and Analysis by Humphrey Percy, Chairman and Founder

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