Tuesday, 13 October 2015

Financial Orbit wrap 13/10/15

Five sentences or graphics which sum up the Financial Orbit output over the last 24 hours across the website, twitter account and anything else thought about...

1. Some of the BoA-ML Fund manager sentiment survey charts out - always interesting (h/t @Callum_Thomas):

Gold…out of favour but creeping up


Still the same crowded trades but not short EM now perceived as more extreme than short USD as latter has started to fade


Tail risk – China,EM – quelle surprise



2. Too much talking at the Fed – QE correlated with hot air it seems! 



3. I wrote up the Johnson & Johnson numbers here.  My summary view:

'So not the most inspiring set of numbers but longer-term investors will remain calm.  So that aforementioned US$95 level or below is about the right level for first time buyers...'

Still at least there is a big buyback...


4. In European numbers for Michael Page the recruitment company I note:

Where do Michael Page see the demand divisionally? First legal, then finance, then retail/sales & finally industrial

5. Elsewhere...

Impressed broken year-end target shrinking GE Cap / financial assets by >$100bn. Got be right thing to do esp with activist on books now

And in response to the Twitter job cut letter (see here) I note:

As with much streamlining 'This isn't easy. But it is right'. Tough letter to write but tone correct

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