Thursday 6 December 2007

market realities

only time for a short one from me today...

yesterday the markets were loving all bad news, because it was all adding up to the Bank of England cutting interest rates today.

The FTSE ended up well over 100 points (it helps that banks are closing their books for bonus' this week and next too; traders want nice margins for the year as a whole).

Today, RBS announces a lot less sub-prime pain than many had been expecting AND the Bank does cut rates.

...and the market falls (at time of writing, may need an update later!). The price of these events has already been taken into account and now the market makers are looking at all that long-term bad news that has come out this week with a different set of specs on.

these ones slightly less biased by the short-term news....

7 comments:

Sackerson said...

On what date, and by what local time, are traders' bonuses calculated in the USA and UK?

CityUnslicker said...

depends on the bank sackers...some pay jan and others feb bonus'.

Sackerson said...

I meant the date the calculation is done - after what day and time can the trader say "it's in the bag, I don't much mind what happens now"?

CityUnslicker said...

sorry, should have been clearer, the date that the year is done is dependent upon the bank's bonues period.

Hence they are all slightly different, some are this week, some next..still gives you a clue.

Reckon markets will be up friday now??...:o)

Anonymous said...

It is interesting that the DJIA remains 10% up on last year. Considering that two big sectors of the US economy have taken a massive hit to share prices, that is quite an achievement. But you have to ask the question "is the market pricing in the risk of lower profits next year?". Surely not. Which means that we have a decoupling of reality to share prices. At some point profits must fall and this means P/E ratios will worsen - which should mean a dramatic fall in share prices to correct the P/E ratiors at some point. I give it 6 months for a major share price crash in the US that will naturally reverberate around the world.

A lot of funds are obliged to invest in shares since the investors ticked the box telling them that is what they wanted a while back, now long since forgotten. So right now we are seeing a flight to quality, squeezing more of the investment capital available into fewer quality shares.

Sackerson said...

CU:

"Reckon markets will be up friday now??...:o)"

Looks like it, thanks to the Bush plan to freeze adjustable-rate mortgages. I should have put on a bet with William Hill.

Anonymous said...

aaaa片, 免費聊天, 咆哮小老鼠影片分享區, 金瓶梅影片, av女優王國, 78論壇, 女同聊天室, 熟女貼圖, 1069壞朋友論壇gay, 淫蕩少女總部, 日本情色派, 平水相逢, 黑澀會美眉無名, 網路小說免費看, 999東洋成人, 免費視訊聊天, 情色電影分享區, 9k躺伯虎聊天室, 傑克論壇, 日本女星杉本彩寫真, 自拍電影免費下載, a片論壇, 情色短片試看, 素人自拍寫真, 免費成人影音, 彩虹自拍, 小魔女貼影片, 自拍裸體寫真, 禿頭俱樂部, 環球av影音城, 學生色情聊天室, 視訊美女, 辣妹情色圖, 性感卡通美女圖片, 影音, 情色照片 做愛, hilive tv , 忘年之交聊天室, 制服美女, 性感辣妹, ut 女同聊天室, 淫蕩自拍, 處女貼圖貼片區, 聊天ukiss tw, 亞亞成人館, 777成人, 秋瓷炫裸體寫真, 淫蕩天使貼圖, 十八禁成人影音, 禁地論壇, 洪爺淫蕩自拍, 秘書自拍圖片,

做愛的漫畫圖片, 情色電影分享區, 做愛ㄉ影片, 丁字褲美女寫真, 色美眉, 自拍俱樂部首頁, 日本偷自拍圖片, 色情做愛影片, 情色貼圖區, 八國聯軍情色網, 免費線上a片, 淫蕩女孩自拍, 美國a片, 都都成人站, 色情自拍, 本土自拍照片, 熊貓貼圖區, 色情影片, 5278影片網, 脫星寫真圖片, 粉喵聊天室, 金瓶梅18, sex888影片分享區, 1007視訊, 雙贏論壇, 爆爆爽a片免費看, 天堂私服論壇, 情色電影下載, 成人短片, 麗的線上情色小遊戲, 情色動畫免費下載, 日本女優, 小說論壇, 777成人區, showlive影音聊天網, 聊天室尋夢園, 義大利女星寫真集, 韓國a片, 熟女人妻援交, 0204成人, 性感內衣模特兒, 影片, 情色卡通, 85cc免費影城85cc, 本土自拍照片, 成人漫畫區, 18禁, 情人節阿性,