My goodness! Aside from Osama’s departure we had a routine week, then - a weak Jobless Claims release on Thursday (more claimants than expected) and all hell breaks loose! Equity prices dive; crude, other commodity prices head to the sewer; bond yields plummet. Offshore markets shudder.
One number, and all that?
Market tension was at the tipping point. Sometimes it takes just a speck of information to trigger the mad rush; emotion is, as always, taken to the extreme.
We’re constructive for Q3 but told our clients that both this Claims release and April Payroll carried the potential to worry the market. Claims, fine, that worked but we were wrong on Payroll.
That grand old work horse, that US engine, she’s still pulling the wagon. She’s thrown off a few more government types while she’s taken on the private sector as she fights her way past everything the administration can throw at her.
She’s the grandest horse that God ever made. And she’s never looked finer than before!
That ‘ol campaigner, Sweetheart-On-Parade.
Robert Craven
One number, and all that?
Market tension was at the tipping point. Sometimes it takes just a speck of information to trigger the mad rush; emotion is, as always, taken to the extreme.
We’re constructive for Q3 but told our clients that both this Claims release and April Payroll carried the potential to worry the market. Claims, fine, that worked but we were wrong on Payroll.
That grand old work horse, that US engine, she’s still pulling the wagon. She’s thrown off a few more government types while she’s taken on the private sector as she fights her way past everything the administration can throw at her.
She’s the grandest horse that God ever made. And she’s never looked finer than before!
That ‘ol campaigner, Sweetheart-On-Parade.
Robert Craven
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