It's the Fourth of July and what a welcome break! This year I celebrated at the American Club in HK. Ironically a ton of Brits were present and quick to wish me a 'Happy Fourth of July!' Kind of ironic, isn't it? As I recall, this holiday is a celebration of Americans defeating the British?? Perhaps it is a case of 'Time heals all'. Although in this scenario, 'Win or lose, we still booze' would be more applicable. In any case, a well deserved holiday.
Accordingly, no fireworks but definitely some sparklers. Global markets are trading well post the European Summit. Indeed, I like a party as much as anyone, but I'm still a bit reluctant. Hard for me to believe all of Europe's problems were solved in one little weekend. Hopefully I'm being overly cautious and the Euro-zone policy makers do have it all under control.
Anyway while I'm not popping the Champagne yet, you can/should certainly indulge in a Coors Light. It's the 4th of July!
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