Monday, 5 November 2007

Good morning Team Rainbow and welcome to, hopefully, the start of the turnaround in performance we are all waitign for.

It seems the dodo is being joined by US bank bosses this morning as heads roll on the other side of the Pond - both Merrill Lynch and now Citi bank have decided to remove the rudders on their own versions of the Titanic. Still, good times have undoubtedly been had by the banks over the last few years at everyone else's expense, let's hope they see the fariness in giving some of it back. The art of making a silk purse out of a sow's ear has been rumbled. It can't be done.

Today's economics: UK Manufacturing production and service PMI at 9:30am followed by the US ISM non-manufacturing index at 3pm.

No comments: