Humphrey Percy Chairman and FounderMon 11 Dec 2023
US Interest Rate Cuts
With 5 quarter point cuts expected in 2024 by market watchers at the end of 2023, what could go wrong for the US economy and by implication for the rest of the world? The answer is that if inflation is squashed and the economy is cooling, then that will be a great reason for rate cuts. 50% of the market expects that to occur in March with the other 50% thinking that June is more likely. If however the US economy is forced into a recession, then that is a much less acceptable outlook and a poor background to putative rate cuts. So far the US market looks resilient with unemployment at 3.7%.
Apple Vision Pro
It may not have garnered much in the way of publicity- yet – but this AR/VR Apple system is going to be huge. Augmented Reality augments your surroundings by adding digital elements to your surroundings. Virtual Reality on the other hand uses a completely immersive experience that replaces a real life environment with a simulated one. Apple has created a system that leaves its rivals in the dust. All that stands between you and it is the price tag: USD 3499 available in 2024.
Mallaig and Morar
These islands in the Inner Hebrides in the North West of Scotland were awoken yesterday morning to something highly unusual in those parts: an earthquake. Measuring 2.1 on the Richter scale it was more a case of being stirred from slumber rather than shaken awake and far from an example of the earth moving.
NGESO or the UK’s National Grid Electricity Storage Operator has it transpires not been using battery capacity to store electricity. Instead it has been “skipping” which means it has been instead using fossil fuels for example. This means that 71,000 tons of carbon have been sent into the atmosphere unnecessarily. Not a great look for the week of COP 28.
This day in 2008 a Chilean Roman Catholic Cardinal gave his verdict on Madonna’s first concert in Santiago, Chile. It included the words: shameless, lust, lustful thoughts, crazy enthusiasm and impure thoughts. 60,000 fans shared his views with crazy enthusiasm.
Some boys kiss me Some boys hug me I think they’re ok If they don’t give me proper credit I just walk away
They can beg and they can plead But they can’t see the light (that’s right) ‘Cause the boy with the cold hard cash Is always Mister Right
‘Cause we are living in a material world And I am a material girl You know that we are living in a material world And I am a material girl
Some boys romance Some boys slow dance That’s all right with me If they can’t raise my interest then I Have to let them be
Some boys try and some boys lie but I don’t let them play (no way) Only boys who save their pennies Make my rainy day ‘Cause we’re living in a material world And I am a material girl
Discussion and Analysis by Humphrey Percy, Chairman and Founder
British Pound There really was something for everyone in Bank of England Governor Bailey’s comments yesterday. Firstly he said that the BoE was comfortable with the market’s view of the decline in UK interest rates -meaning one presumes both on extent and timing. Then he followed it up by saying that the UK labour market […]
EU Commission Instead of November’s EU growth forecast of 1.2%, the EU Commission has revised back its prediction to 0.8% for the growth in the gross domestic product of the 20 countries. The 2025 year however will see growth of 1.5%. Back to 2024, it is difficult for the EU bloc to grow much when […]
Germany With the German IFO or Business Climate Index down from 90.10 a year ago to its current level of 85.20, Germany’s business leaders are more realistic about the outlook for Europe’s largest economy than their political leaders. Chancellor Scholz wisely passed the speech making duties yesterday to one of his cohorts who managed with […]