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While Asian investors may have been waiting for Mid October and the end of the CCP conference for ‘something to happen’, US investors in China may have been waiting to see if there was any prospect of a bounce before realising their tax losses before the end of October.
The most crowded trade in markets at the moment is $ cash. Fear rather than greed is dominating sentiment for both retail and professional investors and, with yields approaching 4%, cash is back as an asset class once more...
The marvellous British word ‘defenestration’ is seemingly only ever used when a politician is metaphorically thrown out of the proverbial window and as such will doubtless be all over the UK press in the next few days as Chancellor Kwasi Kwarteng loses his job and the administration of Liz Truss hangs by the proverbial thread.
The 100th anniversary of the Chinese Communist Party will be presented as a time of calm in a sea of international chaos as Xi looks to a third term and further progress to his view of socialism.
Danger UXB was a British TV series about a company of soldiers dealing with UXBs, or Unexploded Bombs, left in London after the Blitz.