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Satchu's Rich Wrap-Up
 
 
Wednesday 09th of September 2020
 


Bonds and stocks now the most expensive ever, according to this chart by Deutsche Bank's Jim Reid. @ReutersJamie
World Of Finance

Aggregated 15 DM country average nominal bond yields and equity percentile valuations 

(100% = most expensive; 0% cheapest) over last 160 years.

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The story of Guillaume Le Gentil, the astronomer who spent 8 years of his life on a quest to observe the transit of Venus, during which he was declared legally dead and his wife remarried @Rainmaker1973
Misc.

The story of Guillaume Le Gentil, the astronomer who spent 8 years of his life on a quest to observe the transit of Venus, during which he was declared legally dead and his wife remarried, only for the sky to end up being cloudy on the day of the transit 

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The Hollow Men Mistah Kurtz — he dead A penny for the Old Guy
Africa


Between the desire And the spasm 

Between the potency And the existence 

Between the essence And the descent

Falls the Shadow

For Thine is the Kingdom

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The ghazal the pir said would immortalise her. @manishgaekwad
Misc.



Bibbi sang full-throated for one last time. Zohra’s handkerchief sat beside her.

Four days after the mehfil, Bibbi dreamt she was with her twin sister in heaven.

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(Gilgamesh to Enkidu, Tablet III of the Old-Babylonian version)
Misc.

"Who is there, my friend, can climb to the sky? 

Only the gods dwell forever in sunlight. 

As for man, his days are numbered, 

whatever he may do, it is but wind."

(Gilgamesh to Enkidu, Tablet III of the Old-Babylonian version)

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Positivity rate by age, in the Marseille region @vincentglad
Misc.

Useful illustration of how a rise in SARS-CoV-2 positivity in younger groups can soon become a rise in older groups. @AdamJKucharski

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Currency Markets at a Glance WSJ
World Currencies


Euro 1.1771

Dollar Index 93.533

Japan Yen 105.91

Swiss Franc 0.9181

Pound 1.2946

Aussie 0.7225

India Rupee 73.5915

South Korea Won 1187.62

Brazil Real 5.3624

Egypt Pound 15.79

South Africa Rand 16.89

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Cal-21 #WTI is down $2.80 which is a bigger event that spot down $3.20. First time in a while gamma hedging is kicking in exacerbating the price move, vega spiking too - @IliaBouchouev
Minerals, Oil & Energy

Cal-21 #WTI is down $2.80 which is a bigger event that spot down $3.20. First time in a while gamma hedging is kicking in exacerbating the price move, vega spiking too - there are still chunky cal-21 $40 puts on banks' books that must be tightly managed. 

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At Bole Airport this morning in Addis Ababa, three local reporters, myself, and other members of the public boarding a flight to Mekele were prevented from traveling by National Intelligence and Security Service. @MarksSimon
Africa

At Bole Airport this morning in Addis Ababa, three local reporters, myself, and other members of the public boarding a flight to Mekele were prevented from traveling by National Intelligence and Security Service. Phones and laptops confiscated, social media accounts scrutinized.

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IMPORTANT NOTICE: REQUEST FOR SECURITY HOLDINGS INFORMATION To the holders of the securites issues by the Republic of Zambia
Africa


Description

Series

ISIN

CUSIP/ Common Code

The Republic of Zambia   5.375%  20-Sep-2022

Reg S

XS0828779594

082877959

144A

US988895AA69

988895AA6

The Republic of Zambia   8.5% 14-Apr-2024

Reg S

XS1056386714

105638671

144A

US988895AE81

988895AE8

The Republic of Zambia   8.97%  30-Jul-2027

Reg S

XS1267081575

126708157

144A

US988895AF56

988895AF5

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While not the worst we have seen, SA's Q2 GDP decline of 51% (annualised) ranks among the most severe globally. @hugopien
Africa

A particularly strict lockdown and pre-COVID vulnerabilities helps to explain this. Level of SA GDP 8.7% lower in first 6 months of '20 compared to same period in '19.

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Whatever happened to Covid Organics tonic shilled by Madagascar Pres Rajoelina and sent to mainland African countries? @hallaboutafrica
Africa

Other than we learned the Russians were behind it in a scheme to pit African countries against the WHO?

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Angela Merkel: “You cannot fight the pandemic with lies and disinformation...the limits of Populism are being laid bare.”
Africa



States with such rulers can get “seized by senility and the chronic disease from which [they] can hardly ever rid [themselves], for which [they] can find no cure”

To thwart calamities, rulers should possess certain qualifications. Khaldun recognizes wisdom, logic, honesty, justice and education as the most desirable qualities in a ruler.

The Correlation between the Case Load and Populism has a stupendously high correlation coefficient.

political decision-making is now driven by often weaponized babble. @FukuyamaFrancis

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The @EU_Commission and @eu_eeas (#EEAS) have not demonstrated that European Development Fund (#EDF) aid to 🇰🇪 #Kenya between 2014 and 2020 addressed the country’s #development obstacles and focused on reducing #poverty @EUauditors
Africa

The @EU_Commission  and  @eu_eeas  (#EEAS) have not demonstrated that European Development Fund (#EDF) aid to 🇰🇪 #Kenya between 2014 and 2020 addressed the country’s #development obstacles and focused on reducing #poverty, according to our new report 👇

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EU development aid to Kenya needs better targeting to make an impact
Kenyan Economy

Projects funded under the previous 2008-2013 EDF delivered outcomes as expected, but have not had a visible impact on Kenya’s overall economic development. The auditors now call on the EU to rethink its approach to allocating development aid.

EU development aid is aimed at reducing and ultimately eradicating poverty in the supported countries by incentivising good governance and sustainable economic growth. The EDF is Kenya’s main source of EU funding. The aid received by the country under the 11th EDF, between 2014 and 2020, amounted to €435 million, around 0.6 % of its tax revenue. The auditors examined whether the Commission and the EEAS had targeted it effectively towards where it could contribute most to reducing poverty.

“We did not see sufficient evidence that aid under the 11th EDF is channelled to where it can do most to reduce poverty,” said Juhan Parts, the ECA Member responsible for the report. “Job creation is the most effective and sustainable way to reduce poverty, so EU funds should primarily be focused on economic development.”

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by Aly Khan Satchu (www.rich.co.ke)
 
 
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September 2020
 
 
 
 
 
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