Doomsday merchants and short-sellers were delivered the news they didn’t want to hear, see or read when the US jobs report came out on Friday with 271,000 new jobs in the month of October when only 180,000 was expected. I’m gearing up for good news and I think the only bad news in the States will come from Jack Frost!
I said the banks look attractive for a yield player and they still do. I am buying BHP and Rio when there are silly sell-offs but I know my good returns from these could be two-three years away but the dividends are still miles better than term deposits.
For two years in a row cold weather has rocked the US economy, it showed up in statistics, it affected confidence, it gave credibility to the ‘we’ll all be ruined’ types and held back the march forward of the stock market.