Evil Diaries: Blanching at debt
Danny Blanchflower, despite the discretion required of a former BoE interest rate setter, unhesitatingly describes La Truss as in GaGaLand with her preparedness to borrow perhaps a further 150bn pounds.
Well, we Sunakers never quite put it that way. And it must be accepted that nobody knows for sure. However, I slightly suspect that nobody in the cabinet today recalls the collapse of Danish government debt prices some thirty plus years ago. It can happen again and to us.
However, on the personal celebratory side, Tom Hayes has pulled it off this morning with JPY strengthening against USD. (Apparently other currency pairs have proved even more successful.)
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Meanwhile my brother Tim has this week published A New Zealander In Oxford covering our father’s time at Oxford. If you like donnish jokes it is for you. £15 at Amazon.
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I would comment on REA’s half time results due out this morning. However, for some reason, although advertised as up they are not.
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Finally, Jersey Oil and Gas (JOG) has come out with a very bullish statement this morning. The price is 240p offer and a screaming buy.
Whatever happened to CIHL and Medway Investments Ltd?
REA results took a lot of clicking to finally find where they were. The debt level seems to be stubborn. the profit not as much as i hoped, though it was a profit. Profits weighted to the second half; how often do we hear that?
Some blame given to the Indonesian government meddling.
The 14.5p final on the preference shares and the outstanding 7p payment to be made next year. As long as nothing goes wrong! A yield of 14.5% for a holding period of 100 days, if you could get in and out of the stock without the large spread.
If i read correctly the ordinary shares could be 400p so at 117p appear a steal.
The only thing to actually push them that way will be a bid from MPEvans . Though i cannot see that happening, though i may wish for it.
I hold the preference and a few ordinaries, so my opinion is biased towards the company , but would love to hear what others think and look forward to Evil making the REA website work.
REA results 9th August ?
No comment yet Caulky, Your’e in a race with Hargreaves Lansdown.