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I’m travelling right now. In fact, right this very moment I am on a plane with Mrs. Concord and, in all likelihood, a too-curious toddler trying to climb over the seat to play the drums on the gray head of hair in front of us. I’m sure we’re getting peculiar looks from surrounding passengers wondering just who in the heck these awful parents are.
I’m going to try and get myself off the grid for the next week. It’s vacation time. This is when I load my Kindle up with books, hide the little email icon on my iPhone, and try to forget about the rest of the world. I usually do a pretty good job of it. I take vacations very seriously.
I sometimes wonder if the world of finance would be a generally happier, less anxious place if everybody that worked in it was forced to spend a few weeks of the year away from it all, unplugged from CNBC and their Yahoo Finance ticker. God knows, it’s kept me sane over the years. It’s the only thing that makes my EURIBOR-OIS nightmares go away.
Thanks the the miracles of technology and auto-publish, our service continues uninterrupted. This week you’ll get a market update, and next week you’ll get something different.
In case you missed it (or just got back from vacation), Europe is back in the headlines. This time, it’s Spain.
All of this news happened to coincide with the first significant market drawdown we’ve seen in 2012. All of you technical analysts will immediately recognize that the market shot straight to the 50-day moving average and has been consolidating around here.