Hints and tips:
...G Grass The perfect surface for tennis, if you don’t mind not playing on it most of the year and then watching it wear away faster than Primark underwear. No, really, it’s good....
...The “green shoots” might just look like things no longer getting worse. Danny Blanchflower: Seems plausible if the government and the MPC U-turn....
...France L&S and Italy will not pay dividends this year, and XL Bermuda is unlikely to. The slack is only partly taken up by France P&C which is over distributing....
...Upside to consensus: Hays cons appears to price in c.65% fee growth decline in Q4 and limited or no cost savings....
...Here’s Commerzbank: Equity markets staged a decent rally last week with e.g. the S&P 500 up 10.4% w/w, and weekly trough to peak performance exceeding 20%....
...Since we last met the FTSE 100 is up 3.6 per cent, the Stoxx 600 is better by 3.8 per cent and the S&P 500 is 1.7 per cent to the good. Why?...
...We remain firmly in the V camp mainly because like a Unicorn, U shaped recoveries coming out of a recession don’t exist, particularly when the recession is so steep like the one we are experiencing today...
...V, U, or L? The nature of Covid-19 growth impact means that some elements – e.g., production resumption, inventory restocking, and travel normalisation – would lend a natural rebound to growth....
...GILD shares were up 8% in pre-market trading (now +3% vs S&P 500 2%), and as we have noted, remdesivir doesn’t really add much to our DCF....
...Saudi Aramco has increased its official selling price everywhere except in Asia, where demand is recovering....
...As well, over 50 companies in the S&P 500 have already suspended their share repurchase programs, which accounted for over 25% of buybacks in 2019....
...Here’s a table of day-two S&P rallies, stalled or otherwise, from Cornerstone Macro: ... which also notes how windy it is out there: Apologies if we didn’t reach your request....
...If Debt/GDP is about 1 now (UK-US levels) you can run a primary deficit of (g-r) — where g is growth rate and r is real cost of borrowing — and keep Debt/GDP constant....
...U is for UX — of which there is none. V is for V-shaped recovery — predicted after every fall. W is for wallet — the easy to remember sequence of 34 alphanumeric characters....
...For stocks, we forecast the combination of negligible earnings growth this year with cuts in forward p/e ratios could take the S&P 500 down to the 2500 level, more than 25% down from its February 19th peak...
...A judge in Regina v....
...No pressure then, Canucks!...
...A B C D E F G H I J K L M N O P Q R S T U V W X Y Z6. The alphabet is here to help you with these questions....
...U is for Unbreakable, which no watch is. V is for Vibrations per Hour (see Frequency)....
...Hoad, planning partner of Campbell Doyle Dye, is ex-P&G. K is for knickers....
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