Rest easy .... we're not getting too UK-centric, it just looks that way at first. The truth is that Brexit chaos and the imminent general election that it has spawned make the UK the provider of many of the finest (which is to say, the most extreme) examples of modern day market peculiarities. Yesterday saw the release of the Labour Party's election manifesto. Of course, everybody knows (one assumes) that this particular Labour Party leadership is of the "hard-left" variety .
ref: - "HSBC Says British Pound May Soar. Or Crash”, Bloomberg Markets 19/11/19 Regulars will know that as a rule we've tried to avoid the subject of Brexit like the plague, as much as anything else on the grounds that whatever one's point of view on the matter it's just too sad to watch a nation and a parliamentary system tearing itself apart. Of course, we've also steered clear of it all because it seemed pretty obvious from the start that nothing would be decided until the
ref: - "Tail Risk" by Tommy Stubbington, The Financial Times, Companies and Markets 13/11/19 Apologies for pointing you to a piece that appeared yesterday… we weren't able to get to it then but it's worth a look as it not only ties in pretty neatly with what we were talking about on Monday but also addresses what is perceived as the most basic truism of any market-place. That is to say that ultimately, the interaction between supply and demand determines the price. On Monday
ref :- "Rising Yields Quiet Bond Market's Key Recession Alarm" , The Wall Street Journal There is, or at least there used to be, a certain image of the gnarled old trader ..... one who's seen it all before and for whom sensible caution has given way to cynicism. Actually, you may have noticed that we are not averse to a dash of cynicism ourselves occasionally but the fact is that too much of it can lead to constantly missing opportunities that others have been only too please