|Data for week commencing 18 January|
With serial scare merchant, George Soros, trying to make the current sell off worse by telling us that Europe is about to break up and this is a China-created GFC rerun, it was good to see the European Central Bank boss, Super Mario Draghi, weigh into the market madness with a “don’t forget us” reminder. In case you missed it, he hinted that more monetary policy stimulus was possible and the market liked it.
This helped global stock markets and the Yanks celebrated again on Wall Street overnight, with oil’s price spiking. You can thank Mario Draghi and, possibly, the belief that Japan’s central bank will get stimulatory next week. Also, there would be less fear that the Fed will raise interest rates when it meets on Wednesday.