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Samuels Says07 February 2013by Jonathan Samuels
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Thank you...25 March 2011by Jonathan Samuels
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Go Bokke!29 November 2010by Mark Posniak
Shine On...15 November 2010by Jonathan Samuels
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Mark Posniak - 13 August 2010
More mixed data coming out of the global economy this week. Wobbles across the pond, first and foremost, as the Fed admits that the economic recovery is looking, well, shaky. The Fed is so concerned that it resorts to a shot of QE-lite (which, like me, I'm sure you're an expert on....).
Hot on the heels of the bleak prognosis stateside, mid-week we have our own Merv the Swerve telling us we are still very much in choppy waters. Well, if you can't get any forecasts right or meet your targets, then I suppose you may as well state the bleedin' obvious. Bring back good old Eddie George. And then today, everyone perks up when a great set of numbers emerges from the eurozone.
The German economy, like its footballers against us and the Argies, put in a startling performance in the second quarter, growing by 2.2%. This helps the eurozone economy turn out a better-than-expected 1% in Q2. So, doom and gloom at the beginning of the week, hope at the end of it. Much the same volatility over in the property market, although it does feel like the bulls had a better week than the bears.
The CML's repo figures weren't as bad as some had expected, and unemployment fell, which never hurts, although everyone knows that the Sword of Damocles that is Bank Rate continues to hang above borrowers, ominously, on a thread. It will be interesting to learn, later this month, what the various property indices say happened to house prices in August.
More than likely it will be just another mixed bag. But mixed bags aren't a bad thing right now. They invariably denote a market that is stabilising, rather than falling. And after what we've been through, we should take that every time.