1. Many European bonds traded at new record lows today as the combination of QE hopes and continued low inflation/general disinflationary conditions was apparent. I say most because one stood out in going the other way as fears over their fiscal position continued:
2. I muse about Poundland and conclude that their shares need to be below £3 (or x3 the price of anything in their stores) before they become interesting to me.
3. I acknowledge that you can make a strong thematic story for the aluminium company Norsk Hydro but it does not work for me despite some clear positive shifts in pricing and demand for their product:
4. Other Investor Days that I look at include those of the UK food retailer Morrison's and the gold company Acacia. In my opinion the former is still turning around whilst the latter is improving off a low base but it is no Randgold (which to me remains the stand-out gold mining sector investment):
5. And then there was OPEC. Where to start? Bespoke Invest noted this in the aftermath of the 'no cut' conclusion: 'Worst day for WTI (-7.5%) since 5/5/11, and worst day in even longer for 15% of the borrowers in the junk bond market' meanwhile I also enjoyed this which is broadly consistent with this solid (and short write-up) here.
No comments:
Post a Comment