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Read moreMonday Musings 03/10/2022
Dear reader, I have a confession to make. These may be called the Monday Musings, but they don’t usually get written on a Monday. I tend to write them on a Sunday evening once The Boy is in bed and I have a few quiet moments to myself to reflect. However, last night The Boy had one of those evenings where he’d clearly decided sleep is for losers, so by the time I’d won that battle my brain was not capable of musing. So I decided to write this week’s edition today.
And thank goodness I did. I feel like Liz Truss has probably dropped a number of things in her life. The odd plate, a glass perhaps, the ball and, of course, absolute clangers. Her first few weeks in leadership have been a good example. Her intrenched stance on the ‘mini budget’ has been pretty breath-taking, so the announcement this morning that she’s doing a complete about turn on the 45% tax issue (not announced by the lady herself, you’ll notice) genuinely made me yelp out loud. I honestly did not see that coming. Could it have anything to do with the Time’s revelation that Kwarteng attended a champagne reception just after delivering the mini budget that was also attended by hedge fund managers who stood to gain from the fall in the pound, and who encouraged him to stick to his guns? We will never know. But the news is welcome and the pound has already started to recover.
Its worth noting the speed of the market reactions. Markets can react very quickly and an ability to ensure our investments can react just as quickly if, and only if, its right to do so (but do remember to avoid knee jerk reactions!) is advantageous.
So, to the markets,
31.12.2021 | 03.10.2022 | % Change | % Change on week | |
FTSE 100 | 7384 | 6893 | Down 6.64 | Down 1.78 |
Dow Jones | 36338 | 28725 | Down 20.95 | Down 2.92 |
Nasdaq | 15645 | 10575 | Down 32.40 | Down 2.69 |
S&P | 4766 | 3585 | Down 24.77 | Down 2.91 |
NIKKEI | 28791 | 25937 | Down 9.91 | Down 4.48 |
Hang Seng | 23398 | 17222 | Down 26.39 | Down 3.96 |
Shanghai | 3640 | 3024 | Down 16.92 | Down 2.07 |
CAC 40 | 7153 | 5762 | Down 19.44 | Down 0.36 |
DAX | 15885 | 12114 | Down 23.73 | Down 1.38 |
I had a strange encounter on Facebook this week (sounds silly, bear with me…). A new mum put a post up on a local group asking for help. She said.
Read moreAs I’m sure is the case for you, I’ve been watching the coverage of the Israel – Hamas war with horror. The loss of innocent civilian lives, the impact of.
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