Chillin' out till it needs to be funded
Free Guinness is flowing for you if you know a Diageo outlet near you ( I know one in Long Beach, near the Hyatt, off West Ocean (Bl)!) courtesy St Patrick’s Day.
Gold is down for the week, a couple discussing India’s buying..China’s been buying much more and India needs to hedge imported inflation so it has added punitive duties on Gold and gold Jewelry to 100%. The difference is that China and Europe have an elastic relationship to a great extent to price movements in Oil esp when their Economy is weak and so there is a natural corrective cycle embedded as you can see in Oil demand reducing thru February when CPI depended on Oil. China would thus act a s a natural hedge for Gold if it falls lower than a 1500 level maybe, while Central Banks will also push back with buy orders at lower prices.
Quad witching meant there were no volumes in the market, and BofA was the leading performer in the week. Greg Smith and Apple divided People’s attention equally and Emerging Markets though great destinations for investment continue reporting tough problems in for the long run from inflation to nil FDI to weak Econopolitic equations while the West remains trired out of growth and shocked by Oil prices.
Piper Jaffray ‘s back with a 1 mln sales estimate for iPads and if 10 countries + Four vendors coast to coast in the USA could not do at least 3-3.5 mln by Monday this weekend, maybe iPad will not do so good after all.(incl online orders that are already delayed, they do have a limit number on top for what they can produce)
Fixed Income yields closed at a 15% higher clip at 2.3% for the 10Y bond