Our little Zigging island is pretty baron this week as the Zaggers not only left our camp in droves, but threw rocks at us as they paddled away. That’s ok….”Sticks and stones…”
So here we go, Zigging away, while others Zagg in the negatives.
A Personal Sports Related Zigg Starts this Week – Over the weekend, by an odd chain of events, I found myself listening to the opposing team broadcasting feed in a local professional sports event. While my favorite local team did lose, I found it very Ziggingly humorous to hear how negative/Zagging the opponent broadcasters were of their team, and how positive they were of mine. Worth noting, our local broadcast team was just the opposite, being harder on our team, and nicer to the opponent. All of this gave us ammunition for this weeks lead off Zigg while others Zagg; Remember, “It’s all about the attitude!”
Economic Numbers Continue to Impress - As we tally up the week, our top positive economic number was the Jobless Claims number coming in better than expected. A close second was Empire State (NY) and Philadelphia surveys, both showing strength, which makes for our positive economic Ziggs for the week.
IPO’s Hit the Market this Week – While we question the long-term viability of several of the recent IPO’s floated this week, a market that can sop up over 10 new issues worth almost $4 billion is a positive. IPO’s do not come to the market during extremely weak times, leaving us to infer this IPO/Zigg week, as a positive.
EU “Little Brother” Country Yields Fall in New Debt Offerings – On Tuesday, Italy, Spain, and Belgium yields fell as new government debt issues found footing (later in the week Italy slipped a bit.) When a country has trouble selling its government bonds to the market, the yield of that bond will rise. This has been the case sporadically in the last few weeks. This week marks a positive as the prior mentioned EU countries found firm footing in their debt offering, pulling yields down in a confident distribution of their debts.
Euro Zone PMI Stronger, (huh…) – You guessed it, lost by the Zaggers was a slightly firmer PMI reading of 46.9, still in contraction mode, but maybe, just maybe, a leveling off. Of course this was quickly tossed to the side by those Zaggers, which is why we keep Zigging along.
There you have it, another week of Zigging through the negative potholes the Zaggers, who were out in droves this week, left us. That’s ok, because we don’t mind the extra room on our little Zigging island this weekend.
Have a Great Day, a Super Weekend, and Thanks for Zigging with Us!