Archive - May 23, 2013 - Blog entry

Money doesn’t stop at borders or oceans; accounting does.

The Nikkei dropped by 7.3% at the end of the day and Hong Kong’s Hang Seng dipped by 2.5%. Shanghai maintained a moderate fall at just 1.2% (if you believe that data now!). The Asian markets are down.

Popularity is something that can be determined by two things. Firstly, it doesn’t last! When too many people start liking you anyway, there is always someone that is there ready to knife you in the back. ‘Heil Caesar!’ soon turns into ‘Et tu, Brute’! 

As Japan has indicated, when bonds start to plunge, it’s not good for stocks. Today the Japanese Bond market fell and the Nikkei plunged 7%. The entire market down 7%... despite the Bank of Japan funneling $19 billion into it to hold things together.

The Mobile Computing Wars! There'll be a few big winners, and some horrendously damaged losers brought about mostly by undue greed and price gouging in lieu of creativity and innovation!

During the third week of May each year, representatives of the platinum industry gather in London, for an event that has become known as ‘Platinum Week’. Platinum Week centers on an industry dinner sponsored by the London Platinum and Palladium Market (LPPM) which marks the anniversary of the inauguration of the London Platinum Quotation (the forerunner of the present London Fixings) in 1973.

Please do not worry...

The globalization of production makes corporate fx interests less clear. A Reuters survey finds Japanese corporates bearish the yen. Japanese investors also have not behaved as if they expect yen weakness to be sustained.

Today’s AM fix was USD 1,386.00, EUR 1,074.92 and GBP 919.16 per ounce.  
Yesterday’s AM fix was USD 1,385.25, EUR 1,071.43 and GBP 917.75 per ounce. 

Last week (May 11^th) there was a peak of 32, 000 new claims being made taking the US to 360, 000 new unemployed claims being filed, which is the biggest increase since March.