Not Another Hong Kong Story…
Zak Vora, November 25th, 2011
25/11/11
Years – Mids
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Change since 24/11/11
One of the things I’ve been banned from talking about in the office are ‘HK stories’ – my equivalent of ‘this one time at band camp…’ Could it be because of the sheer number of stories I’ve related to HK or simply because they’re boring, I’m not too sure. Thankfully dinner last night with a couple of ex-HK friends allowed us to catch up and bore each other with our reminiscing without the fear of people committing hari-kari in the background in search of escape. And as some commented on their desire to return there and spend a little more time in the ex-colony I have to admit I wasn’t too fussed. But it’s hard to be when you’re having this conversation with Tower Bridge, (dating back several hundred years) and the Tower of London, (almost a thousand years old) as your backdrop during a meal. There just might be a couple of things that London still has to offer to keep one interested…
And on the note of what’s on offer the Italians were out there today offering €10bln of bonds to the market in a funding exercise. The upside, they managed to shift the full amount, the downside, they paid dearly for it. With 2yr Italian yields now rubbing up all hot and bothered against the 8% mark you gotta wonder how much more heavy breathing can be done before everything explodes into an orgy of chaos. This as the knight in shining armour, the EFSF, has found its sword blunted by the likelihood of not being able to punch all the way out to the initially expected €1.4trln but more likely around the €500-800bln mark. (You gotta love the sheer scale of these numbers).
If this makes you think that Europe has its back up against the wall, you’re not wrong. Sadly it’s not as a result of heavy petting after a couple of dates, but due to a shotgun against the head. The only problem with this scenario, (aside from a gun to the head), the mugger might be demanding money but the wallet is finally empty.
Have a good weekend.
This entry was posted
on Friday, November 25th, 2011 at 4:34 pm and is filed under Blog, Featured.
