Well, that was exciting wasn’t it?
We have managed to survive one of the most acrimonious Presidential elections of our time. We have also survived another earnings season.
So, now we know that the results from our Singapore banks weren’t nearly as bad as the bean counters had forecast. There was no Armageddon. In fact, they were actually quite good.
But guess what? The media machinery will be working hard to scare the living daylights out of all of us, just as soon as they figure out how.
In the meantime, we have some Japanese inflation numbers to look forward to. The Bank of Japan has been trying every which way to stoke consumer inflation. But consumer prices just keep falling. Last month, they fell 0.5%. It was the seventh straight month of declines.
Over in the Eurozone, consumer confidence, or a distinct lack of confidence, appears to be showing little signs of abating. Last month’s reading of -8 would suggest that European consumers are still feeling pessimistic about the economy.
British consumers have been feeling a little under the weather too. Last month’s reading of -3 could have been prompted by sterling’s sharp decline, which is stoking inflationary fears.
The UK has some important economic numbers to report too. The economy grew 2.3% last month, which was higher than the previous month. The same fears that are driving inflation – a weak pound – could also be at play in driving economic growth. You pays your money, you takes your choice, as they say.
Singapore will report inflation numbers next week. Last month prices declined for the 23rd straight month. Any bets on making it 24 in a row?
And finally, it’s Thanksgiving day on 24 November. The US markets will be closed on Thursday. They will also shut early on Friday. Did anyone say “long weekend”?
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