If you've ever managed to venture into the market report pages of the Financial Times you'll know what I mean (unless you're Trywalker, who probably cuts out his favourite articles and sticks them in a Fenerbace-branded scrapbook at the weekend. He's young, bright and enthusiastic. It'll wear off). I know it's a fairly mundane subject matter, but I find the writing so stodgy and monotonous that I'd rather spend my time looking up the origin of the word hebetudinous.
Now, if I wrote the currency reports for the FT, they'd be more like my observations on the Sterling markets, as published yesterday and repeated below. Funnily enough, the FT has so far managed to resist the temptation to try and lure me on board...
"GBP: Europe Swiftly Corrects Asia's Fawlty Valuation Of Cable
In a great TV comedy moment, Basil Fawlty, exasperated with his Spanish waiter's constant misunderstandings, ushers him forwards and says, "Manuel, let me explain." Then he pokes Manuel roughly in the eye. Europe, in short, did the same thing to Asia's inflated valuation of cable, following the weekend's news of the US taxpayers' bail-out of their suspiciously named
mortgage providers. Pausing only to check that the pound really was on a 1.79 handle, dealers proceeded to clump bids faster than a John Cleese clip round the ear. The Far East low crumbled quickly and Soft PPI data helped encourage further tapping of the "Yours" buttons. The sellers weren't satisfied until a solid 3 figures had been wiped from Sterling's overnight high, and after hitting a low of 1.7564 a base in EURUSD helped the pound to rally back above 1.76. 1.80 now looks a long way away, and 1.90 may as well be Web 2.0. Wishing that you could get 2 cents to the pound again is like wishing that they hadn't stopped making Fawlty Towers after only 12 episodes. 'Fromage dur!', as they probably don't say in France. EURGBP appeared to have little interest of its own, ushered this way and that like Polly on the sidelines of the whirlwind FX farce."
7 comments:
It still doesn't do it for me ...... unless Polly was naked of course
Well these things can be arranged.. but I think you need to be looking in the back pages of other publications than the FT...
Hadn't noticed any change in Gbp contributions this week at all. Oh, do I have to READ it to notice anything? Must remove the auto delete filter :)
You know, since you moved to the other side of TryW, we have endured the worst 4 days of the year (and personally, of my too long to think about fx career!). Its been duly noted and tomorrow better be a winning day or you're getting some Manuel treatment...
Well, this is true, UDH, it's been a bit of a reverse-jobbing run. However, look on the bright side, Schadenfreude Boy seems positively perky.
The markets will be there tomorrow and since our lunch with a certain US Investment bank has now been postponed while they see if there is a bottom to their share price, we'll concentrate on restoring the run-rate :-)
GBP? is that the currency that you can leave the desk just before the UK numbers ? ;)
Re- Us inv. bank : I think as I havent done anything today with them, they understood that the reason they lose money is not me , at all !
There I was thinking "Geez, that's remarkably witty for UDH Boy!" ... silly me.
@Trywalker - What UK numbers? I'm surprised you know the UK has numbers. Do they report them on Fenerbaceiphone.com?
If it turns out that said US Investemnt bank goes under for losses incurred by their eTrading platform on CEE currencies, I hope you'll feel suitably ashamed and say sorry.
@Bambambam - As witty as UDH Boy can be at times, he actually spends far too much time UberdevisenhandlereshizaAuslanderarbitragetrading and not enough time composing interesting financial market reports (IMHO)...
Post a Comment