‘Twas the night before Christmas, when all through the house
lockdown chat was stirring, vaccines were espoused.

Allegations of parties were rife in the air,
did they break their own rules, a government in despair.

And the news is as bad, if we look ‘cross the pond,
Biden can’t pass his spending bill, and the markets respond.

A new wave of Covid tore right through the land,
parents fearing home schooling, buried their heads in the sand.

But what of the markets, the buys and the sells,
what of risk appetite, before the New Year bells.

Emerging markets are weak, crypto prices have fallen,
spend your Turkish lira now, it’ll be worth less in the mornin’.

Central bankers are struggling, caught in a hard place,
slowing growth yet inflation, risks we stagnate in this space.

The Fed sped up its bond buying taper,
the ECB meeting put the same on the radar,

UK policy was tightened, but not very much,
along with some guidance, some talking and such.

And yet the pound fell, unimpressed was the market,
buy dollars, wear diamonds, 1.3000 the target?

Still now as the holidays approach us so quick,
with visions of reindeer and trees and St. Nick,

I must say I’m optimistic for improvement next year,
for a world back to normal, for something to cheer.

The job market is hot, personal savings are high,
with scientists working on solutions to apply.

So as with each Christmas I grow my round belly,
yes the one that can shake like a bowl full of jelly.

And I look to the future with an optimistic grin,
for inflation to cool, some normality to kick in.

But for now just this message, to you and yours I will write:
“Happy Christmas to all, and to all a good night!”