Phew. Friday. That's probably how the Chinese felt too as they slipped through a second rate hike. It remains to be seen how the Chinese markets react to this move, but when I was out in Shanghai back in May shortly after the first move, a local mutual fund manager there told me he thought a second interest rate rise would spell trouble for both the property and stock markets. There was some discussion here why the authorities choose to move in 27bps steps. No-one here knows so I'm on a mission for the rest of the afternoon! I;m thinking of Ne Win, who ran Burma so efficiently and re-issued his entire currency base in notes denominated in digits that added up to his lucky number 9, but I'm sure that with the PBOC there is a more rational reason.
After two weeks out of the office, most of the time spent crouched over a rock pool looking for crabs and lobsters, I admit that it has not been a complete breeze getting back to the 5.15am bike ride to the station nor getting my thoughts in order. However, the eclectic and eccentric nature of books read on the Cambridge - Kings Cross train line remains a constant source of interest. This morning my neighbour was reading a Complete Care book offering practical, accurate advice from the Expert ( a lady with the interesting name, Debbie Docummon ) on the subject of caring for one's pet rat. Whilst on the subject of books have I not found a cracker for those of you with 8+ year old sons/nephews and god-sons. I had intended an early night last night but was still cackling my way through it well past midnight. A mine of information, written with a wonderful turn of phrase, on subjects as varied as building tree houses, playing conkers, English literature and grammar, adventure stories, tying knots, sport and girls. This book is crucial. In broker speak it's a STRONG BUY.
Apart from being seemingly endless, it has also been an expensive few days. I caused some serious damage to the side of our car the other day in Elie, caving the front side in during what some might term, an unnecessary manouvere. I was trying to reverse out of a narrow parking lot without running over the most enormous dog-turd I had noticed in the middle of the road. And to rub salt into the wounds I didn't even manage to miss the dog mess which after 500 miles driving and several rain storms is still following me about.
Hen 's birthday, by the way, is tomorrow, but this will not change our lives a great deal I suspect. I think she has already done most of the things we told her she could do once she turned 14. She is wandering about London with a school friend today and I am "hoping" to meet up with her on the train back home this evening, a journey which doesn't really bear thinking about!
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