Wyn Thomas - Axys Investment Management

Weekly Market Update 29th May 2015

SLOWING UK GROWTH OVERSHADOWED BY FIFA SCANDAL

This week the world’s media has been gripped by the allegation that FIFA has been on the take, after the FBI and Swiss authorities burst through the front doors of a number of leading officials. Remarkably, most media outlets have chosen to feign surprise that an organisation that awarded a major sporting tournament to a country with an unbearably hot climate, no football infrastructure and vast oil wealth might not be on the level. The same trick was repeated when slightly negative economic data led to the suggestion that there won’t be a US rate rise next month. Again, the revelation that something nobody thought would happen might not happen, hardly warrants the column inches that have been dedicated to it. Read More……