Central banks: Another fine mess you’ve gotten us into

Central banks: Another fine mess you've gotten us into By Filipe R Costa The world of central banking continues to delight. This particular niche has delivered the greatest advances in economic knowledge, outputting refined new tools to improve the way our economy works. They redefined the zero lower bound, making it possible for borrowers to get a return on their debts; they turned the time preference upside down; and they created their own yield curve. In the process, central banks have been able to target prices (interest rates), then to target quantities (quantitative easing), and now to target both at the same time. Anything is possible today and investors won't find the solution for the current puzzles in textbook economics, as central banking is now a complex mix of magic and wisdom. This week we witnessed two central bank meetings by the BOJ and the FED. Let's take a look at the market consequences as a result of those two meetings… Click Here To Read The Full Story The Master Investor Market Report The FTSE 100 closed the day at 6,911.40, an increase of 76.63 points. The FTSE 250 rose 53.89 points to finish at 17,987.77. The FTSE All Share climbed 34.77 points to finish at 3,763.94. The FTSE AIM All Share ended the day at 814.07, up by 2.58 points. Pub landlord Mitchell & Butlers (MAB) said that, while sales during the first 51 weeks of the financial year fell by 0.8%, in tbe last eight weeks revenues had risen by 1.8% on a like-for-like basis. Margins were hit by the introduction of the national living wage as well as increased investment in the business' pub estate. Management said they were encouraged to be entering a new year with positive trading momentum, but warned cost pressures were still a factor going forwards. The shares rose by 2.60% to 272p. Don't miss our September issue! Click HERE to read. Project management specialist WYG (WYG) said that it has continued to gather momentum over the six months ending 30th September with both revenues and profits before tax on track to beat the comparative period. The order book for the second half of the financial year is well ahead of the same point of 2015 and management believe that results for the full year will meet market expectations. The shares climbed by 4.50p to 121p. Software developer Scisys (SSY) increased revenues for the first half of 2016 by 35% to £22.2 million as it hit deadlines on existing deals and won a number of major new contracts. The company swung to a pre-tax profits of £0.97 million from a loss during the comparable period of last year, despite the negative effects of certain currency hedges that the firm had put in place. Scisys shares grew by 5.29% to 89.50p. Tomorrow's news today CVS Group (CVSG) will release interim results. Quote of the day "It is no use saying, 'We are doing our best.' You have got to succeed in doing what is necessary." - Winston Churchill Latest Stories Hotel Chocolat on course for 300p target By Zak Mir Being something of a chocoholic, and being one of the few people actually prepared to pay £3.85 for a 65% Supermilk bar, the short history of Hotel Chocolat has been a source of much personal interest… Click Here To Read The Full Story ONS data could be masking the full implications of Brexit By Robert Sutherland Smith Investors should not assume we have seen the full implications of the UK decision to go it alone. Like history, the future is another country; they do things differently there. One of the useful things taught in economics, is to distinguish between the 'short term' and the 'long term'… Click Here To Read The Full Story Infrastructure can yield strong long-term returns By Nick Sudbury The protracted period of low interest rates triggered by the 2008 financial crisis has pushed up the value of many reliable, income-generating parts of the market to the extent that their valuations have become considerably overstretched… Click Here To Read The Full Story Glencore: Why aggressive traders should buy now By Zak Mir I have to admit that, as in the case with Lonmin (LMI), at one stage earlier this year I did succumb to the idea that Glencore may be no more. Instead, the share prices of both companies have reversed sharply to the upside... Click Here To Read The Full Story Savers: It's time to fight back against low interest rates By James Faulkner Savers should brace themselves for more pain as the Bank of England's latest interest rate cut filters through the system and inflation begins to creep higher… Click Here To Read The Full Story Join the movement on social media: Copyright 2016 Master Investor Ltd, All rights reserved. You are receiving this email because you opted in at our website. If a Daily Bulletin is too frequent, why not opt in to our once weekly mailing list for a round up of the week's news straight to your inbox. Once Weekly Round-Up Our mailing address is: Suite 88, 22 Notting Hill Gate, London W11 3JE Master Investor is a trading name of Master Investor Limited. Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. 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