Okay so it is Christmas Day but there are always a few matters to note (even if most markets are closed today).
1. So no surprise rate cut in China - but the Chinese market is still pretty stimulus centred as noted here by Bloomberg:
2. The Japanese market was also open - and traded dully. However perhaps more interesting was this observation from Thursday's budget which was headlined:
Abenomics gets boost, vital structural reforms delayed
Oh Japan - quelle surprise! And the economic release out was pretty shabby too:
Average household spending fell 2.9 percent from a year ago in real terms, down for the third straight month, against an average forecast of 2.0 percent by 20 economic research institutes surveyed by Jiji Press.
3. The Spanish election occurred last weekend and as noted on both Monday and Tuesday the results were somewhat inconclusive. Interesting therefore to see the King of Spain's Christmas Eve views:
“Political plurality, expressed at the ballot box, without a doubt offers different sensitivities, visions and perspectives; and it involves a way of exercising politics based on dialogue, consensus and commitment,” said King Felipe, in an address from the Palacio Real in Madrid.
“Now, what should matter to all, first and foremost, is Spain and the general interest of the Spanish people.”
Maybe the grand coalition is not completely out of the equation...4. Good on FedEx (and UPS) to keep delivering the presents (link here) even on Christmas Day. Maybe learning from last year (when profits warnings were delivered after real disruptions).
5. And finally...
Lego is a better investment than gold, true story
Well maybe not all Lego (link here)...
Now back to the Christmas presents (fortunately not an adult colouring book for me!)