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Macro Thoughts

Home Thoughts

A galaxy discovered in 2013 may be the most distant galaxy ever seen.
And I do mean distant: If the research is correct, the light we see
from it left now the galaxy 13.3 billion years ago. Incredibly, we’re
seeing it as the very first stars in the Universe themselves were
forming!

“We come spinning out of nothingness, scattering stars like dust.” Rumi

The Older Children are headed off to university later this year. Its a
little unfathomable how quickly time has passed from holding them in
my arms from the day they were born.

Sometimes I slice through all the teenage Noise - Grab hold them of
them and squeeze them and ask

''Who's your Daddy?''

“It will never rain roses: when we want to have more roses, we must
plant more roses.” ― George Eliot

The strikes mark a significant escalation of US operations in the Horn
of Africa, a region that borders the Bab el-Mandeb Strait, a critical
oil passageway that links the Mediterranean and the Red Sea to the
Indian Ocean.

Those killed, according to an official cited by the New York Times,
were “standing outside in formation” when a combination of drones and
manned airplanes destroyed the camp and killed almost everyone
present.

Conclusions

If you look just at Fatalities - The Chart is going parabolic.

Euro 1.0973
Dollar Index 97.39
Japan Yen 112.62
Swiss Franc 0.9977
Pound 1.4191
Aussie 0.7418
India Rupee 67.549
South Korea Won 1215.27
Brazil Real 3.7572
Egypt Pound 7.8309

The world’s food bill just fell $9 billion from a previous estimate as
a glut of oil and ships cut transportation costs, adding to an
oversupply of everything from grains to sugar, according to the United
Nations.

Countries around the globe probably spent $1.076 trillion importing
food in 2015, a five-year low, the UN’s Food & Agriculture
Organization estimated. That’s 0.8 percent less than the Rome-based
agency had forecast in October and marks the first drop since 2009.

The cost was 20 percent less than a record $1.345 trillion in 2014 as
bumper harvests boosted global supplies, helping bring down costs, FAO
data showed. Oil prices declined for a third year in 2015 as nations
from Saudi Arabia to Iraq decided against curbing supply, adding to a
glut from a U.S. boom in production of shale energy deposits. That cut
shipping costs, with the Baltic Dry Index sliding to a record low in
February.

"Cereal and livestock bills, both in terms of a decline in prices and
a fall in trade volumes, are again culpable for the lower cost of food
imports," said Adam Prakash, an FAO economist. "Freight costs also
plummeted making unit costs of importing cheaper."

A gauge of agricultural commodities finished 2015 at the lowest
year-end level since 2006. Reduced energy prices also cut fertilizer
costs.

“The rally is there to be sold because the fundamentals of the market,
being supply and demand, do not stack up.”

"It's about Europe and European banks and the way they mismanaged
their affairs and...found themselves in difficulties in terms of
capital requirements that the financial stability board established by
the G20 and British authorities required of them for overseas
operations."

"We understand growth is the key issue, if that denominator changes
everything changes with it," he said, adding that the budget's fiscal
measures demonstrated the government's determination to act on the
deficit.

On the alleged clash with Moyane, Gordhan said only:

"Mr Moyane is merely the administrative head of an entity and you
cannot equate a minister in a government with the head of an
administration."

"The president a week ago expressed confidence in the minister of
finance, that's why the minister is here with his team and private
sector team to meet with people who are invested in the South African
economy," he added.

The Nigerian president made the comment at a joint news conference
with his South African counterpart Jacob Zuma following talks between
the pair at the start of the latter's two-day state visit to Africa's
most populace nation.

25,755.0 -135.93 -0.53%

Par Value:                  1/-
Closing Price:           41.00
Total Shares Issued:          2984227692.00
Market Capitalization:        122,353,335,372
EPS:             6.086
PE:                 6.737

KCB Group FY 2015 results through 31st December 2015 vs. 31st December 2014
FY Loans and advances to customers 345.968686b vs. 283.732205b +21.935%
Profit before tax and exceptional items 26.537573b vs. 23.787429b +11. 561%
Profit after tax and exceptional items 19.623071b vs. 16.848863b +16.465%
EPS 6.49 vs. 5.63 +15.275%
FY Dividend 2 shillings a share unchanged [Part Scrip Part Cash]
Liquidity ratio 48.3% vs. 43.7% +4.600%

Revaluation losses at Equity, which operates in six African nations,
slumped to 7.84 billion shillings from 977.3 million last year, which
Mwangi attributed to the 84 percent devaluation of the South Sudanese
pound in December as well as weakness in the foreign-exchange rates of
neighboring Uganda and Tanzania last year.

Par Value:                  0.50/-
Closing Price:           40.75
Total Shares Issued:          3702777020.00
Market Capitalization:        150,888,163,565
EPS:             4.63
PE:                 8.801

144.76 -2.45 -1.66%

3,941.46 -38.63 -0.97%