Tuesday, September 22, 2009

Deficit

Weak sterling will deliver UK surplus

Broadbent of Goldman Sachs is of the opinion the devaluation of sterling will push into a permanent trade surplus, with expected interest rate rises and an 8% strengthening of the pound imminently. BNP Paribas forecasts an imminent crash against the euro. UK has overseas equity which has rallied recently. How low can sterling go?

Posted by stillthinking @ 10:43 PM (1367 views)
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6 thoughts on “Deficit

  • “Goldman Sachs issued an alert advising clients to build up sterling positions”.

    “Where theres a tip theres a tap”…..old stock market proverb.

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  • “Goldman Sachs issued an alert advising clients to build up sterling positions”.

    How does that Goldman trick work again? something like buy it, ramp it, sell it, short it – it’s late and I’m sure someone will remind me of the missing bit’s

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  • Let’s hope that Goldman Sachs’ prediction is correct. Let’s make sure we have some sort of plan for a different outcome as well.

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  • Goldman Sachs advised everyone to buy oil when it was at $147/barrel last year, quoting a probable rise to $250/barrel and subsequently the price plummeted to $30/barrel. They had just filled a bl**dy great tanker with the stuff and were obviously trying to ramp the market, but probably shorting at the same time. This is where the PI needs to be very, very careful. When a shark is telling you now is a good time for lunch, you are probably on the menu.

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  • “Goldman expects the pound to strengthen by about 8pc to €0.84 over the next three months. It closed yesterday at €0.9035. This contrasts with warnings from BNP Paribas that sterling is on the cusp of another crash, with euro parity in sight by early next year.”

    Pays your money and takes your choice

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  • Bystander, most people here were insisting that oil would end 2008 well over $200pb. Those in glass houses, and all that.

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