Excellent snippets from Robert Peston this morning on Radio 4 about what happened yesterday. It made me laugh when he said ministers were asking him yesterday about what he thought was going on!! He spoke to his 'contacts' in the city and they seem to agree that the problem was not new and it was already out there for all to see but apparently it was a knee jerk reaction from the market movers yesterday for some reason. The bottom line is that globally we can't continue with the level of growth that China is providing and that this will decline, possibly rapidly over the next few years. Europe is currently broken and undergoing repair - results not known. The BRICS are not growing at the expected rate and strangely: the UK is approaching stagnation/deflation. No-one wants this it seems. Overall it is a realisation that global growth is a thing of the past, people will have to accept low levels of growth in the future. And yesterday we had a reminder that this is a taste of what is to come.. Peston summarised it all by saying that it was one of a series of 'mild' corrections he expected to see over the next few months.
The Gluhwein & Feuerzangenbowle tasting sessions already arranged. Six different venues in Northern Germany. Someday will creep my way down south to Munich. Yes the French have a few problems - but then who hasn't ;)
good spike . There was definitely blood in the water y day . Lots of theories but seems to have come from the bond market with a big liquidation programme at the front end of the yield curve . Panic short covering in the bonds triggering dumping of all assets followed. Seems we are no further on five years later. Heho I think we did quite well with LLOY yesterday despite best efforts by some to nobble our horse. Lol gl
Same here, and I think I've eluded to the fact that a serious correction could put Lloyds in the 50's - my estimation somewhere between 52-55p. I was expecting a drop on the FTSE today, but was looking to see if it would hold around 6315, but clearly not. I expect it will go to c6300, but that seems to be a function of the algos tracking the 5ma.
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