E News Overload

Today US markets managed a rally despite misses in both the growth and employment data. Both oil and precious metals rose along with stock prices for several of our ADR holdings.

We continue in news overload mode as our companies report to beat the August doldrums. And as my new website is not accessible despite the techies thinking it is. 

Today the Financial Times headlined a call for US Treasuries reform from “grandees” including Timothy Geithner, Larry Summers, Mervyn King (a Brit), Bill Dudley, and Axel Weber (a German now working to clean up UBS). They want the world's largest bond market to use other means than its own bond holdings in exchange for cash to stabilize markets, something the Fed is now planning to do. But they also want more visible clearing and more transparency to cut counterparty risks to banks and the Fed. The statement read; “In the Treasury market, the pressure for reform can be undermined by the belief that the Fed can always step in and fix things... not a particularly wise approach. It is better to act when the memory of the last crisis is still fresh,.” “Financial crises play a valuable role in exposing problems in the structure of financial systems” but “the impetus for reforms fades quickly”.

Photo by Annie Spratt on Unsplash

The big good news is that our plans to get to London after 18 months of quarantine in New York now look like a real possibility. This will mean fewer write-ups during the stay abroad, and more fun and family. I need a break badly. BA which already has our ticket money is unable to handle the calls it is getting from, among others, my husband who is working on the bookings. 

We have big news and results from several of our companies today, starting with a hard-to-cover Mexican. This is for paid subscribers only, reported by Eduardo Garcia from Mexico City:


*Grupo Bimbo, the largest bakery owner in the world, acquired the Emmy's Organics firm in the US which produces ultra-premium “organic” gluten-free cakes. This is a growth market. The price was not given. The acquisition was revealed in its Q2 result conference call. It is just over 5 months since GRBMF bought a minority stake in Rule Breaker Snacks, a maker of vegan nibbles, also gluten-free and aimed at people with allergies. Bimbo also said it had completed the acquisition of the Spanish Cerealto Siro Foods in Medina del Campo, Spain, maker of sweet breads for Mercadona and other private brands. Grupo Bimbo was up 9.52% today after it opened up over 18%..

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William K. 1 month ago Member's comment

Thanks for the updates, especially on Grupo Bimbo. That one was "big" even long ago when I spent a year in Mexico City one month. Being in the right spot at the right time and making the right moves looks good. At that time the city was SO VERY MUCH different from here in the USA Detroit area. It may still be different, I never went back to see.