The US government, the bastion of democracy, is still in the midst of a government shutdown, and the debt ceiling deadline is approaching. From what I’ve read the last time the US defaulted on payment was in the early 1800’s, we don’t expect the US government to actually be this silly, but market commentors are now suggesting that perhaps markets need to crash in order to convince these politicians to get their acts together.
Yellen is finally confirmed as Fed Chairwoman, now officially the most powerful in the world, much to the chagrin of my male colleagues, I do like to argue that if we had more women in charge, less things would go wrong. Impact to the markets? Well we’d like to argue its been priced in but wouldn’t be surprised to see markets have a short lived rally.
Thai markets have been buoyant for the past week, our eyes look at the fact that its mainly been prop desks that have been doing the buying, makes us worried that these are all just short term mini rallies.
Amata has come out saying that their industrial estate in Chonburi may be flooded…we don’t expect it but seriously for Thailand to experience another such serious flood would be a blow to investments in this country.
Enjoy the day 🙂

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