With a weekend (6-17-12) of important elections across the pond in Greece and neighboring countries Spain and Italy fighting for a reasonable government bond rates, (Spain currently nearing the terrible 7% rate) we draw an unlikely comparison to the US Open Golf championship, which is also happening this weekend, and the global events of late.
How small is the world these days?
Taking a look here at the US Golf world rankings for this weeks US Open will reveal a few interesting, small world facts:
- The top 3 world golfers are UK, not US
- Only 6 of the top 10 are US
- Only 11 of the top 20 are US
- Regarding the US Open championship players in 2012, 10% are Asian
- Only 3 United States residents of the last 10 US Open Championships
With the world being such a smaller place we are all co-dependant and thereby susceptible to each other’s illness.
Along with a Greek election, the FOMC will make an announcement next week. We think more “Cow Bell” stimulus is unlikely, although Janet Yellen’s June 6, 2012 speech last week gave us less confidence in our thinking.
Before getting too heavy heading into your weekend, a quote we often repeat to ourself comes to mind “It is never as good as you think, OR as bad, just somewhere in between.”
Travel Plans
Today Donald spends day 3 of 5 in Las Vegas at our favorite institutional research conference of the year, Applied Finance Group and will return on Sunday after extending his trip a few days for family fun.
Over the weekend I travel to a potential char broiled vacation spot for a few days next week as forest fires have put the trip on tentative notice. We both will be comfortably tethered come Monday as market participants decide if they like the outcome of the vote, AND we have a new, “smaller world” US open champion. What country will he be will be from?
Have a Wonderful Weekend! Talk to you next week.
JK
214-706-4300 www.jkfinancialinc.com