30 June 2018 FT — Articles to Read

30 June 2018

Question: According to MSN:Lifestyle, what are 61 of the Best Things in Life that aren’t available to buy?

Rothschilds discover what’s in a name as family ends legal fight over moniker – Pg. 1

–          Yesterday’s agreement between Rothschild & Co, the Anglo-French parent of Rothschild & Cle, and Edmond de Rothschild would bar both groups from using the Rothschild name by itself in branding.  Instead, they will use their full names to build future business and both vowed to “work together to protect the family name in the banking sector”

–          (Prof Note: Family name is important!  It can take generations to build a “brand” and moments to destroy it.  The greatest gift a family can provide the next generation, in my opinion, is a positive family name.)

Bond markets send signals of a looming recession – Pg. 9

–          Interest rates on two-year Treasury bills, known as the yield, have been climbing since late 2016.  But the yield on the 10-year has increased far less

–          As a result, the difference between the two, known as the term spread, has compressed to less than 40bps.  In trader parlance, that means “the yield curve has been flattening”, which has previously been a strong predictor of recessions

–          US inflation is running at around the Fed’s 2% target, labour shortages are emerging, some fiscal stimulus is still in the pipeline, and Fed policymakers have been quite clear that market volatility will not divert them from their plans

–          Given the strong Fed signals, why aren’t long-term rates rising well?

–          ….ECB and the BoJ are continuing their quantitative easing

–          What then are the possible sources of an adverse hit to growth?….Fed over-tightening….tightening liquidity….

–          …$10tn of corporate debt will come due in the next five years

–          ….talk of a full blown trade war might be another reason investors fear a recession

–          American grievances include state aid to Chinese companies, pressure by the state on overseas companies to share technology if they want access to Chinese markets, and the state condoning, if not aiding, intellectual property theft

–          China is clearning up its financial system, an immensely complicated task given the debt that has built up.  Growth has slowed, the cost of riskier loans has been rising as have defaults.  The Chinese authorities are working to spread losses across the system, but this needs to be managed carefully to avoid panic.  If China is caught in a trade war while it is still restructuring its financial system, ,its difficulties could spread abroad

Dow shake-up results in contrasting fates for GE and Walgreens – Pg. 11

–          Since joining the Dow, Walgreens shares have fallen 11.2%.  GE, on the other hand, has gained 8.5% and the Dow has slipped 0.2% over the same period

Answer: (1) Taking your shoes off after a long day; (2) Dancing to a song you love; (3) Having friends that are always there for you; (4) Finding something you thought you had lost; (5) Sleeping in; (6) Swinging (Prof Note: I have “Gulliver” benches all about Nevis…made for napping.  These are swinging benches, 7’ long and 3’ wide with a built-in cup holder); (7) Being home for the holidays; (8) A warm summer day (Prof Note: just pray you are not in southern Maryland where the Deer flies are the size of a small car!); (9) Listening to public radio (Prof Note: Gotta love original thought!); (10) Smelling flowers (Prof Note: Is anything so sweet?!); (11) Lazy Sunday mornings; (12) Staying true to yourself (Prof Note: Find your happy place; the place that allows you to be YOU); (13) The smell of fresh-baked cookies; (14) Using a library card; (15) Singing along to your favourite song; (16) Kisses; (17) The smell of clean sheets; (18) Wearing your favourite pair of shoes (Prof Note: or none at all!); (19) The sound of rain (Prof Note: I can actually watch the storms approach from VA across the Potomac.  Then they thunder and pound when they arrive in MD); (20) Falling in love; (21) Writing a journal (Prof Note: Thank all of you for my voice!); (22) Playing in the snow; (23) Letting go of your grudges; (24) Feeling the breeze out of the car window (Prof Note: Willy and I are SO into the jeep wave!); (25) Exploring a place you have never been to; (26) Believing in yourself (Prof Note: “You is kind.  You is smart.  You is important.”); (27) Watching a sunset (Prof Note: Almost every night I am waiting for the green flash); (28) Jumping into a lake; (29) Rearranging your furniture; (30) Going for a great run; (31) Feeling the ocean on your feet (Prof Note: I won’t tell you where but I will show you where I sit for sunsets on Nevis in a warm pool of ocean water within rocks.  Come join me!); (32) Looking at your old pictures; (33) Seeing the leaves turn colours in the Fall; (34) Laying in the sand; (35) Knowing that someone supports your dreams (Prof Note: I support all of your dreams.  I LOVE hearing of your successes…thank you for sharing!); (36) Going for a walk; (37) Feeling healthy; (38) Getting excited for a coming event; (39) Stargazing (Prof Note: Come join me in So MD.  If you can brave the Deer flies we can sit by the fire and gaze upon the constellations); (40) Holding hands; (41) Reuniting with an old friend; (42) Hugs; (43) Getting recognized for good work at your job; (44) Feeling love and support from your family (Prof Note: This should be unconditional); (45) Overcoming a challenge; (46) Time flying by because you’re enjoying yourself; (47) Laughter; (48) Doing outdoor yoga; (49) Knowing you can trust someone; (50) Feeling the breeze in your hair; (51) Sunbathing (Prof Note: the warm sun upon your face just forces a smile! J); (52) Funny memories from your younger days; (53) Riding a bike (Prof Note: Just yesterday I switched out the pedals on my bike); (54) Completing your New Year’s resolutions; (55) The sound of a book being cracked open; (56) Discovering a hobby you’re passionate about; (57) Surprising someone you love; (58) Organizing a messy space; (59) Swimming until your toes get wrinkly; (60) Celebrating an anniversary; (61) Living life to the fullest.  (Prof Note: One of the aspects I am learning in life is that the best things are truly free, e.g. friendships, sunsets, experiences, storytelling, etc.  It took me most of my life to realize this.  I had to achieve financial and career goals before I allowed myself to just enjoy life.  The sooner one learns to appreciate the simple things in life, the more sunsets, friendships and experiences one can have!)