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Morning sports fans,
Extraordinary….the Bank of Japan on Friday afternoon raised the stakes in the “who can print the most new money” category with now a new 70 trillion Yen target announced…this was enough to get lift off…the Nikkei rallied nearly 5%…Germany got a wriggle on as “Moaning Mertle” suggested that she couldn’t give two hoots if the UK was in or out of Europe…over to you Mr Cameron…and of course the US just keeps on going….more records tumbling than an East German swim meet…
The only fly in the ointment was slightly lower Chinese numbers over the weekend….will be a small handbrake but with another record bank profit this morning, our market will continue to push higher…should have some gas in the tank to get to 5650 this week…banks will lead as the dividend chasing punters bid up…
Gold going to get whacked again…have to ask why some of these gold miners are bothering…better to just leave it in the ground..
Idea of the Day
Bank Index currently 184!!!Soon to go through previous highs…hard to argue with them…remember you buy the banks and you die with the banks…if they hot those highs again may be worth dusting off the sell bank call strategy again…Murray Report will start to appear in the sights soon so may slow things down a little…
And Medibank!!! Massive scale backs!!!!
Things to make me go mmmmm!!
If things are going so swimmingly ,why is Japan throwing even more money at the economy!@!!!Do they know something ?The yen tumbled to its weakest level in almost seven years after the Bank of Japan’s surprise move to boost monetary stimulus.
US mid-term elections coming soon..expect the Democrats to take a pounding!!
Russia put up its rates to 9.5% to defend the Rouble…inflation in September and October had increased more rapidly than expected, reaching 8.4 percent as of Oct. 27.The Red Bank of Moscow said the comrades expected inflation to remain above 8 percent until the end of the first quarter of 2015.
Public TAFE colleges have called for an urgent federal government inquiry into the “extraordinary revenue and profitability claims” made by some listed private education providers and others expected to float soon……and so they should…
REA Group is considering a price freeze across its premium property advertising packages, after a backlash from real estate agents over soaring ad rates and the complexity of a new pricing system.
The Chicago PMI rose to 66.2 and better than estimates at 60.0, with strong gains in new orders and employment but in China the October Manufacturing PMI was reported at 50.8 and lower than estimates at 51.2 and the prior at 51.1.
The Bank of America Banker at the centre of the Hong Kong murders appears to have left this out of office reply on his computer…
“I am out of the office. Indefinitely.
For urgent enquiries, or indeed any enquiries, please contact someone who is not an insane psychopath. For escalation please contact God, though suspect the devil will have custody. [Last line only really worked if I had followed through..]”
Not sure if its real but good start to the insanity appeal!!
Fun fact…Prior to World War I, the German mark, the British shilling, the French franc, and the Italian lira were all valued around the same — about four each to the dollar. By the end of 1923, the rate for the mark was one trillion to a dollar — one million-millionth of its former self. In mid-1922, a loaf of bread cost 428 million marks.
In the UK ,George Osborne is to make a repayment on a loan first issued by the then-Chancellor Winston Churchill in 1927 to refinance National War Bonds originating from the First World War. He will redeem £218m of the debt from the so-called 4pc Consolidated Loan on February 1 2015. Still, it will only put a small dent in the UK’s WW1 debt, which still stands at around £2bn….here we are 100 years after the start of WW1 and now they are paying back debt!!!!!!
What the hell is going wrong with the Aussie Cricket team!!!First the Wobbalies then the cricket…
Westpac’s profits have jumped 8 per cent to a record $7.6 billion, as record low interest rates fuel a bounce in credit growth and drag down bad debts among borrowers.Bad debts down too as Gail steps out in style…class act…more fuel for the banks rally…
The value of risky investment products, mortgage-backed securities and other non-bank entities – global shadow banking assets – increased by $5 trillion to $75 trillion in 2013, according to the Financial Stability Board (FSB).
The Grim Reaper came for me last night, and I beat him off with a vacuum cleaner.
Talk about Dyson with death.
I went to the cemetery yesterday to lay some flowers on a grave. As I was standing there I noticed 4 grave diggers walking about with a coffin, 3 hours later and they’re still walking about with it. I thought to myself, they’ve lost the plot!!
My daughter asked me for a pet spider for her birthday, so I went to our local pet shop and they were $100 Blow this, I thought, I can get one cheaper off the web.
I was at an ATM yesterday when a little old lady asked if I could check her balance, so I pushed her over.
Have a great Monday