As things have been rapidly turning uglier and uglier in Crimea, Ukraine over the past days i found a different angle of the situation. CNBC’s Dhana Ranasinghe published an article about the ways that Russia’s economy takes large damage from the previous days sabre rattling from Kreml. It is a fact that is as uncomfortable as it is true; where money and economics are involved people start to evaluate their actions (and the actions of others).
I’m not enough read into the subject of Crimea to post any pointed opinions about it, but here is hoping for a quick and calm resolution of it all..
So, here i am…my pals took a cab to the local club to have a great party all night long…but i decided that i’d rather stay at home than burning fairly vast amounts of money on ONE night out. I understand them to the fullest, i do. But i just dont wanna get on that train this time. I’ve had a good night, no doubt at all about that. But enough is sometimes enough!
The last few days has seen it’s fair share of waves on the equity seas; the U.S stock indices closed in the red yesterday (due mostly to dissapointing ISM numbers according to speculation) and the Nikkei 225 in Tokyo butchered 4,18% of it’s value during the night here in Europe.
Surprisingly (to me) the Euro indices closed some distance into the green today, and as of right now the S&P500 is up about 1% in New York. It isn’t a far stretch from here to think that Europe will open in the green tomorrow as well, but you’ll learn quickly that in this game there are no guarantees.
I’m undecided what i should think about tomorrow; probably it’s better to stay off the market for a few days to get some sort of indication about which direction we’re heading.
The U.S Federal reserve today announced that it will taper back another 10 million of asset purchases; from it’s previous 75 to 65 million USD as of todays FOMC meeting. Market Watch has more on this story here.
So 2014 is up and running and it’s back to business as usual at school. Our current course is an introductory course in macro economics which started in the begining of December and during our two week Christmas break from scheduled classes, which in all honesty set me back a bit. It has taken some effort to get back to it again, but nevertheless i feel optimistic about the exam on Friday (13:30 to 19:30 which is a pretty crazy schedule for a Friday! ;-))
We had the presentation of our project in this course earlier this week as well, which went pretty well. Me and and a study buddy of mine were handed the task of analyzing the Swedish government debt from a right wing perspective, and suggest ways of administrating it in the future. Fun and educational for sure (possibly only for aspiring economists though ;-))
The end of 2013 is approaching with leaps and bounds and i don’t think i’m overstating it if i say that from a macro-economic perpective this year has provided plenty a gift for anyone who’s into the western equity markets. The Euro Stoxx 50 is up 20.8% this year while the S&P 500 in the states has bloated by a hefty 30.2% so far. Great numbers by any standard. And top it all off the U.S Federal Reserve (finally) started it’s tapering of asset purchases last week, something that the markets in general reacted to with great festive joy (much suitingly for the time of year!).
The prospects for 2014 in world wide economic terms indeed look promising pretty much all over. I’m not going to make any predicitions about the coming year for myself or anyone else, i’ll settle with the good vibrations that are all over the business pages these days.
Before this year comes to an end however, it’s Christmas celebrations in the books for me starting tomorrow! I wish anyone takes the time read this a very Merry Christmas and a happy new year. May 2014 be prosperous for you and may all your dreams come true!