Wry & Dry No.5 of FY-25 Kamela Kamala’s first error. Be alert. Best Olympic nation.
She was doing so well. Squillions pouring into the campaign coffers. The Trumpster totally flummoxed as to how to response to an energetic female and younger competitor. Polls showing her level-pegging with the Trumpster.
What could possibly go wrong?
Quick Return to Stability
Global equity, currency and bond markets experience some gyrations over the past week. Headline movements in Japanese equities, large moves in currencies and sharp falls in equities markets in Australia and the US hinted at significant changes in either positioning or fundamentals.
A weak US employment report on Friday 2nd August added to the level of uncertainty.
For market participants the principal task was determining whether the level of dislocation was indicative of sharp changes in a relatively narrow set of conditions, or whether concerns were much broader and more permanent.
By the end of the week the outlook was much clearer and markets across the globe recovered much of their losses. This was especially the case in Australia where the markets are now only slightly down a year-to-date basis. More importantly measures of uncertainty such as the US VIX index of volatility had fallen 60 per cent from the highs of Monday.