Another beautiful day today. Few more of these and I'm going to look like George Hamilton helped immeasurably by Janet & Co, doing exactly what everybody thought they would do; leave everything in place, say there is less risk out there (translation: we got BREXIT all wrong) and hold out a bit of hope for a rise in September. On the latter point, forget it. There is absolutely no chance of a rate rise two months before the election from this Fed. None. So we cruse along without a care in the world-- except for around here because the Cubbies are beginning to slip. Somehow, I don't think the world order will be affected.
The big news today, just breaking I might add, is hat the new stimulus program widely expected...and in some quarters feared...from the Bank of Japan apparently will not happen. I just glanced at exchanged rates in Asia a moment ago and the Yen was surprisingly strong yet again based it seems on the BOJ expressing that there is no need for a new stimulus package. Caught me out as I would have been short but as I don't have two Yen to rub together no harm done. Tomorrow's markets will be interesting.
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It's politics, but I have to comment on this. Just when the news cycle was heading into top speed in covering Bill Clinton's speech at the convention last night..."In 1971 I met this girl..." up pops The Donald and kills the entire story line with an absolutely beauty: "Russia, if you can find those 30,000 Emails, you'll make some real friends among these press people (pointing) here" WELL! All hell broke loose with the NY Times accusing Trump of asking Russia to spy against the United States and that was the gentlest of the criticism. Trump plays these guys like a tin drum. Never for a moment did the Times consider that among all the nations in the world that own a computer the only one that might NOT have the Emails is the United States. Of course they have been hacked...even the FBI has much admitted that. But that raises another question for this most extraordinary of all elections. If the Emails do contain damaging information on Mrs. Clinton as many suspect, is she now and could she be compromised in the future by a foreign power who has that information. It is the electronic generation version of the oldest intelligence ploy existing, the HONEY TRAP. If anybody figures that out and brings it up, let me know would you? I'll be in the sun. Until November.
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