Day After MLK

Tue, 2018/01/16 - 2:05pm | Your editor
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After Martin Luther King day there is a lot of catching up to do, because world markets were open yesterday. News and guidance did not halt because of the holiday.

Today bitcoin lost about 20% of its value with other crypto-currencies also down. Meanwhile the US dollar picked itself up from a 3 year low against other major currencies. Brazil's index hit a new high and the Dow moved over 26,000. There was a l

The big shock explaining the rush into greenbacks and reais was a supposed dividend aristocrat, Carillion, a UK government contractor which upped its dividend for 16 years in a row, filing for bankruptcy. This was the result of its debt to its own pension fund and off balance sheet liabilities coming in at about £900 mn it does not have.. Its largest clients were parts of the UK public sector where it bid aggressively for contracts which lost money.

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