Earlier in the week we had the Prime Grimister telling us about more C19 Restrictions and this was followed up by the Chancellor announcing a plan to give some sort of support to Workers whose jobs are under threat; although from what I am picking up it has not been particularly well received and it looks like further measures and more tinkering is needed.
And I hear the NHS App has gone wrong already but let’s not go there because my sides cannot take any more !! It’s hard to see how the further Restrictions cannot impact negatively on the Economy and of course this makes it harder for many Companies to trade profitably (if they can trade at all) and it looks like this situation won’t be going away fast. Boris was talking about 6 months which takes us to April next year and in today’s ‘Investors Chronicle’ the Editorial was suggesting that a year might not be out of the question. Clearly Markets are going to be lacking direction and prone to sudden rises on hopes of a better future and plunges on fears of the challenges dragging on.
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Of course it would have been extremely rude of me to not take advantage of the sunshine on Friday and to spend a delightful lunchtime in the garden of the White Hart with a few investing mates, and hopefully I can squeeze in a few more such afternoons before the Indian summer finally gives up the ghost.
Or perhaps more pertinently, before we are banned from going to Pubs again. This meant that I wasn’t particularly focused on what the markets were doing on Friday but I can’t say I was hugely shocked to see the US Markets coming off quite a lot and the FTSE100 also had a bit of a weak day. With the incessant narrative of impending Second Lockdown Doom, it is no surprise that people are hesitant to buy Stocks and we can combine this with the upcoming US Presidential Elections, Autumn being traditionally weak, and US Tech massively overbought, and the ingredients are clearly there for more downside.
Amongst several other big potentially negative events like no Trade Deal in the ongoing Brexit discussions and all the chaos a messy Presidential Election Campaign in the US could cause, the clear big looming threat is the likelihood of a Second Lockdown which seems to be increasing by the day.
There is no doubt the number of Infections is rising rapidly and I heard on one of the TV News Broadcasts that they were doubling every 7 days across the UK – that seems fast but at the height of the first problems they were doubling every 3 days. It is very possible that the Infections speed up though and that may not be helped by the Government saying the restriction to 6 people meeting up will come in from Monday – it is obvious that many groups of people are going to party like crazy over the weekend and feed the inferno.
This weekend we held what I think was the 6th WheelieBash and yet again our incredible run of decent weather continued; the rain kept away although it did get a bit nippy at times but fortunately the attendees seemed to have had the good sense to bring Jumpers and Jackets !!
As always I must thank Aston Girl @Reb40 for the timing because we always set the date on when it fits her to fly down south and that tends to be early September (and I must also thank AG for making the effort to come such a long distance anyway !!). It was a slight shame we picked the date slightly wrong because it has turned out that Sunday has been pretty nice down here in Windsor and I have been able to get out in the garden doing some of the essential tidying up that always comes as Autumn descends upon us. |
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