Obama lightweight © fintag

News comments:
Words.

Obama is good with words except he doesn't know how to use them properly. The UK chancellor isn't a great orator but has said enough to convince the markets GBP is where it is at. The UK started to cut before anyone else (despite it really being a slow down in real terms) and so gets to keep its AAA. Waffling Americans and Continental Europeans struggle.

The UK isn't in a happy place. It isn't a happy place. But while the markets look to make beans from the distresses of others, it will turn into the new Swissie / Yen (which wants to peg with the Euro). Printing presses to the ready ...

Today's shorts:
European banks (drat, no shorting today) (telegraph)

Today's longs:
iApple to rule everything (telegraph)

Chinese iApples (reuters)

Gold (bloomberg)

Gossip:
Obama to call in sick.