After, yet another, glossy puff piece in the Times about ‘Buff Billionaire’ Matt Moulding of THG, I posted a comment suggesting that they should consider tagging it as Advertorial. I got a few likes and replies before the comment was deleted as seemingly contradicting the Times’ Policies – presumably on objectivity. Truth hurts obviously.

There is a meaningful risk emerging that the quiescence of the public so far in response to lockdown is going to erupt into civil unrest over the summer as the bread and circuses employed so far are no longer enough to control the mob.

Equity Markets recovered at the end of last week in what looked like a classic ‘buy the dips’ bounce as medium and long term investors moved in to take advantage of some deleveraging and forced selling by the short term traders and market makers.

The retreat of leveraged retail from Equity markets is leaving a lot of ‘concept stocks’ friendless, (no profit, no bid as Bob Marley almost said) but this looks to us more like 1987 than 2000, despite the noise and nonsense of SPACs etc.

Last Friday’s Non Farm Payrolls were seen by markets as ‘weak’ and supportive of a ‘no inflation scenario’ leading to a sell off in the US$.