Monday, 21 December 2015

Financial Orbit wrap 21/12/15

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. Messy in Spain...and financial assets there have been volatile today.

Spanish election – uncertain outcome as with almost all votes counted, the Popular Party (PP) had 123 seats; the Socialists 90 and the anti-austerity Podemos party 69. The liberal Ciudadanos party was in fourth place with 40 seats.  The PP could find it very difficult to form a government because it can't achieve a majority in parliament in coalition with Ciudadanos, its most natural partner. The Socialists, on the other hand, could form a pact with Podemos and Ciudadanos. El Mundo front page: "Spain buries bipartisan system, government up in the air". La Razón front page: "Rajoy wins election with ungovernable parliament".

2. Dow theory not looking hot -

(h/t @SoberLook)

Been a bit busy today writing various articles for third parties and related.  So I finish with a few tweets:

3. Fascinating report & graphic "Even middle England can't get on the property ladder via "

4. The new QE regime: buy assets that have not been created yet. Sounds almost South Sea bubble esque...

5. Brilliant commodity insight from @RBS_Economics:
18 months ago a barrel of oil bought you a bottle of Pol Roger 2004 champagne. Today you get Sainsbury's own brand.

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