- Nikkei did not fall despite Usd/Jpy pull back and the US falls.
- Asian Markets did not really fall despite US and European actions.
- So this is not a global relinked "risk off" move and still sits within "positional" explanations.
- Gold has bounced though the bounce is still ex-feline.
- Some of TMM have been doing some company visits downunder and keep hearing that "winter is coming" from mining guys. We aren't sure if this something to do with "Game of Thrones" or just a southern hemisphere reverse seasons thing or whether this is just a reflection of mining contractors' order books.
- Aud is looking as sick as a dawwg (our cross hairs are back on it).
- Not much real news, with Price is News starting to dominate.
- Boston - really terrible and hopefully an isolated event.
- China is slowing but not crashing.
- Jim Reid has devoted 50 odd pages to showing that historical returns to high yield at these spreads are really bad. Thanks Jim, we know. Now what is the catalyst?
- Soft ZEW result is already in the price.
- John Sweeney's BBC Panorama program about North Korea didn't tell us anything new or actionable and in TMM's eyes was a journalistic self-indulgence that, having used LSE students as cover, puts future acedemic research in dangerous lands at risk. TMM wonder if, like they do with dodgy banks, it's time to split the BBC into a "Good BBC " and a "Bad BBC".
- A recent dreadful dining experience has spawned a new entry for the TMM glossary:-
Aqua Nueva - A distillation of pure arrogance and appalling service containing no spirit whatsoever served in a glitzy shallow vessel to the detriment of the recipient. As in "The Eurogroup served Aqua Nueva to Cyprus". Like the London restaurant with the same name and dreadful attributes, to be avoided at all costs.
- John Sweeney = Aqua Nueva
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