Sorry for the lack of posts this past week… it was a whirlwind. We travel to Canada in the summer and it is always craziness getting ready to go. This year was particularly busy because of the launch of the NCRW “Women In Fund Management Paper” on the 24th. We have been receiving great feedback on the report and CBS Evening News is working on a segment which should air in the next week or so.
I hope to settle in and catch up on all my financial reading. The unemployment number released yesterday was obviously horrible and the markets responded accordingly. I continue to be very bearish overall though I do not think we will test the lows of March 9th. The ‘green shoots’ remain quite difficult to find and if anything the news just seems to be less bad, not particularly good. Unemployment is the real killer which will continue to weigh heavy on forclosures and other credit related losses. There have been headlines in the news of late about bank portfolio credit card losses hitting 10% which is scary. The other big sector heading for big trouble are commercial real estate loans. Banks are trying hard to earn their way through the losses and some will, but some will not. This recession will stretch out and their be winners and losers. Enough bad news for a beautiful BC day.
Hope your summer is off to a great start. Take care….