Member Info for Darth.Trader

Stringfellow’s......i thought they furloughed the cleaners

German officials 'very concerned' by rising cases..
The head of Germany's public health agency has said he is "very concerned" by rising infections in the country.

"We are in the middle of a rapidly developing pandemic," Lothar Wieler, head of the Robert Koch Institute (RKI), told reporters.

Mr Wieler said Germans had become "negligent" and urged people to wear masks and respect social distancing and hygiene rules.

In the past week the country has recorded 3,611 new infections.

The warning comes as countries across Europe grapple with new infections and the problem of travellers moving across the continent for the summer holidays.

On Tuesday Germany issued a travel warning for three regions in Spain - Aragón, Catalonia and Navarra - which have seen a recent spike in infections.
READ MORE;
https://www.bbc.co.uk/news/world-europe-53566880

...Tsunami...?

no doubt some suckers will buy in...

@the open tomorrow ......

""Keep guessing....""

put your teeth in you have some grass to chew...

.. a breach of 27pennies and 4 for £ will be expensive.

....won’t recover until late-2024

Ernst and Young warns economy will tank even worse that previously thought
Britain is set for a long and hard recovery according to accounting giant Ernst & Young (EY).

The country’s third biggest accountants has warned GDP won’t get back to 2019 levels until the end of 2024.
And its latest forecast suggests the economy will contract by 11.5 per cent this year – down from the 8 per cent it predicted in June and from 6.8 per cent predicted in April.

It also forecasts that unemployment will rise to around 9 per cent in late-2020 – from less than 4 per cent before May.

It comes after the Office for National Statistics said retails sales were close to pre-lockdown levels last month, helped by food and online sales. Clothes sales continued to struggle though.

The EY figures, from its ITEM Club Summer Forecast show dashes hopes of a V-shaped recovery as Covid-19 continues to dictate economic activity.

The downgrades to the 2020 forecast are driven by weaker-than-expected growth of just 1.8 per cent in May, with the services sector particularly hard hit.

The ITEM – Independent Treasury Economic Model – Club is the only non-government economic forecasting group to use the Treasury’s model of the UK economy.

Howard Archer, chief economic advisor to the EY ITEM Club, said: “Even though lockdown restrictions are easing, consumer caution has been much more pronounced than expected.

“We believe that consumer confidence is one of three key factors likely to weigh on the UK economy over the rest of the year, alongside the impact of rising unemployment and low levels of business investment.

“The UK economy may be past its low point but it is looking increasingly likely that the climb back is going to be a lot longer than expected.

“May’s growth undershot even the lowest forecasts.

"By the middle of this year, the economy was a fifth smaller than it was at the start.

"Such a fall creates more room for rapid growth later, but it will be from a much lower base.”

Unemployment, job insecurity and concerns about the virus will also lead to continuing subdued levels of consumer spending – down 11.6 per cent this year, before heading up 6.6 per cent in 2021.

Howard Archer said: “The labour market’s performance is key to the economy’s prospects over both the short term and further out.
“Job losses and poor real wage growth are expected to hold back consumer spending, although the Chancellor’s instinct to focus on jobs in his Summer Statement should provide some support.

“It is possible that the Chancellor will look to provide further help for the labour market in this autumn’s budget.”
EY said business investment could fall 22.3 this year, only rising 1.3 per cent in 2021, while exports will fall by 23.9 per cent in 2020.
read more;
https://www.business-live.co.uk/economic-development/fresh-warning-uk-economy-wont-18654787

Enema between the ears is whats required...

tbh i think it takes b@lls...!

..to wear a mask in public...!

https://twitter.com/Reuters/status/1286769394249609217/photo/1

Double Whammy , i have to agree since LTI resumed posting the filter had been very busy....

Double Whammy , i have to agree since LTI

""I called it right, the sp went to 38p (2p below my magic target)""

lol, you called it after the fact...as for the housing market, it's falling apart why else would a conservative gov give a capt tax holiday, lol.....spending like a Labour gov , oh dear me....lol.

see you at the bottom X

that had to be the worst TA, Technical Analysis, i have ever read and lets be clear, very clear the "40p by Friday" post by the little falker had more substance...

good luck x

Rate of redundancies slow but worst is yet to come...
Fewer British employees were made redundant in June but economists warn unemployment is on course to rise.

Around 650,000 people lost their jobs between March and June but the pace of decline slowed in June, with the bulk of job losses occurring around the onset of lockdown restrictions.
une’s drop of just over 74,000 was markedly smaller than April’s 450,000 according to figures from the Office for National Statistics.

However, Yael Selfin, chief economist at KPMG said the data represented the “calm before the storm”. The unemployment rate unexpectedly beat expectations to stay at 3.9 per cent in the three months to May. But Selfin said “as the Job Retention Scheme unwinds in coming months, the full impact of the recession on unemployment is likely to be revealed.”

Chancellor Rishi Sunak has said the scheme, which sees the government pay 80 per cent of furloughed employees’ wages, will wind down in October.

A number of firms have already announced job cuts from retailers Boots and John Lewis to Rolls Royce.

A British Chambers of Commerce showed 29 per cent of companies expect to lay off staff in the third quarter.
“It’s clear that we’re in the middle of a severe economic downturn,” the Chancellor said. “As I said last week, we will never accept unemployment as an unavoidable outcome.”

Last week Sunak unveiled further measures to steam an anticipated surge in employment, including the introduction of the Kickstart Scheme. The £2bn scheme will see hundreds of thousands of state-funded jobs for 16 to 24 year olds who are at risk of unemployment.

The ONS data released today also shows that the furlough scheme led to a record low in hours worked between March and May. Similarly there was a related fall in demand for workers.

read more; https://www.cityam.com/calm-before-the-storm-rate-of-redundancies-slow-but-worst-is-yet-to-come/?utm_source=dlvr.it&utm_medium=twitter

drag European stocks lower ahead of ECB meeting..

European shares eased from one-month highs on Thursday as a batch of weak earnings and mixed economic data from China dented sentiment, while investors waited to hear from the European Central Bank.
The pan-European STOXX 600 fell 1% after closing at a five-week high in the previous session.

Data showed China’s economy returned to growth in the second quarter, but unexpected weakness in domestic consumption highlighted the lasting economic damage from the coronavirus pandemic.

The numbers took a toll on Asian stocks, with investors also jittery about Beijing’s heightened tensions with Washington on trade, technology and geopolitics. [MKTS/GLOB]

Europe’s luxury goods group Richemont SA (CFR.S) fell 5.3% as its quarterly sales almost halved, and it gave no details on current trading or the outlook.

Shares in peers LVMH SE (LVMH.PA) and Kering SA (PRTP.PA), that also rely on China for a large portion of their revenue, fell 1.4% and 2.2% respectively.

Dutch beer maker Heineken NV (HEIN.AS) slid 2.6% as its first-half net revenue fell 16.4% due to coronavirus-related lockdowns.

Norway’s Telenor ASA (TEL.OL) declined 3.9% after forecasting a single-digit decline in subscription base and traffic revenue this year.

“The data that came out from China was not terrible by any means, but if you look at consumers, it was not as strong as what investors may have hoped,” Rabobank strategist Bas van Geffen said.

Focus turns to the European Central Bank, which is set to deliver its monetary policy decision at 1145 GMT, but the ECB is all but certain to keep policy on hold after a series of extraordinary moves. President Christine Lagarde will hold a news conference at 1230 GMT.
https://www.reuters.com/article/us-europe-stocks-idUSKCN24H0X7?taid=5f10157ed1805b000158c5fb&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

....looked after by Swiss bank UBS (UBSG.S) are looking to move their cash out of equities after profiting from an unprecedented sell-off and rapid rebound from March to May, the world’s largest wealth manager said on Thursday.

During the rout in stock markets across the globe in March, UBS’ richest customers took out loans to place billions into crashing stock markets. They are now looking to pull that money from equities and put the profits in illiquid and private assets, UBS’ head of global family offices told Reuters.

Their strategy has helped family offices which manage the financial affairs of the world’s richest beat hedge funds and overall markets to outperform their target benchmarks through May, according to the bank’s survey of 120 family offices, with an average family wealth of $1.6 billion, published on Thursday.

“We had record loans written during the middle of March and the middle of April, of significant family offices who asked us for balance sheet and then went into the market,” Josef Stadler said in an interview. “They bought, for example, U.S. equities, but they didn’t buy $50 million. They bought a billion-plus of those equities to rebalance. And they made a lot of money.”

Known as the “fortress bank for billionaires”, banking half the world’s very richest, UBS said its wealthiest clients serviced by individual family offices were now looking to invest in residential real estate and private equity, or to make corporate and strategic deals.

Stadler said the trend had largely been seen in Asia and he expected it to accelerate in the last quarter of 2020 and into the early months of 2021. As a consequence, he expected equities markets to soften throughout the rest of this year.

https://www.reuters.com/article/us-ubs-group-wealth/billionaires-look-to-exit-equities-after-turning-quick-profit-idUSKCN24G3A8?utm_medium=Social&utm_source=Twitter

"""Please read my post again. You will see the following:-
F ...is a word
0 ...is a number
F....is a word
Two words.........cheers"""

Ahem!...they are letters not words.

To Send Gold To $5000 "Doomsday" Fund Predicts.....

Picking up on what Russell Napier said recently, when the formerly iconic deflationist threw in the towel and now expects inflation because "control of money supply has permanently left the hands of central bankers", a fund manager who returned 47% this year by betting heavily on gold and Treasuries says the next decade is going to be marked by inflation that central banks are powerless to control.

Diego Parrilla, who heads the $450 million Quadriga Igneo fund dubbed "Doomsday" by Bloomberg, perhaps because unlike most of his peers he refused to buy into the biggest groupthink trade ever namely FAAMG stocks, said unprecedented monetary stimulus is fueling asset bubbles and corporate debt addiction, which renders rate hikes impossible without an economic crash. In the ensuing market mania, the manager whose portfolio is loaded up with cross-asset hedges says gold could rise as high as $5,000 an ounce in the next three to five years, more than doubling from its current price of $1,800 which is just shy of all time highs.

"What you’re going to see in the next decade is this desperate effort, which is already very obvious, where banks and government just print money and borrow, and bail everyone out, whatever it takes, just to prevent the entire system from collapsing," Parrilla told Bloomberg in an interview from Madrid.

Actually, we get why Quadriga Igneo was called "Doomsday": it does not shy away from the truth that the Fed has pushed the financial system into a corner where any deviation from massive money injections would lead to catastrophe. Also, unlike most hedge funds - which as we noted earlier no longer function as they should due to central bank interventions - and whose job is to compound steady returns over time, Parrilla’s fund is similar to a "black swan" fund in that it tends to hedge the next big crash while generating capital over time. Managers with a tail-risk bias position for extreme market events, typically bucking mainstream views on Wall Street.

read more;
https://www.zerohedge.com/markets/soaring-inflation-send-gold-5000-doomsday-fund-predicts