Pairing socks! So, no, 20 seconds doesnt sound like much, but I know that if its repeated lots of times it becomes loads. Which is why, when faced with two lanes at a set of traffic lights, or with having to pick a lane in queuing traffic, we should make the right choice without being an arse about it, obviously. Line up behind the Toyota Yaris with two people in it? Or the BMW 3 Series with one? The few car lengths you gain might get you through a phase of traffic lights ahead, or out of a T-junction before a line of cars. The seconds become minutes, the minutes become hours. Its unquantifiable, but we owe it to ourselves, and those following us, to keep traffic flowing as easily as possible.
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The trade surplus was only slightly smaller at $61.6bn against $62bn expected. So activity globally seems to have still been weak in October. The reserve data was stronger though increasing $11bn against expectations of a $49bn decline. Although there are lots of smoke and mirrors in this number its fair to say that China seems to be stabilising from a systemic risk point of view with the house view that the data will now start to pick up. As you'll see in the week ahead Wednesday is a big day on this front with CPI tomorrow also interesting. The data has caused little concern in Chinese equity markets this morning where the Shanghai Comp is currently +1.55% and CSI 300 is +1.36%. Helping the better tone there is the news on Friday that the securities regulator is set end its five-month freeze on IPOs before the end of the year which was previously put in place to help mitigate the huge slide in Chinese bourses earlier in the summer. That news appears to have sparked some concern of outflows from Chinese government bonds as a result, with 10y yields up 10bps to 3.25%, marking the biggest rise since December 5th last year. Elsewhere this morning its been a strong start to the week for the Nikkei (+1.81%) having been supported by some better than expected cash earnings data.
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A new study published Monday, Feb. 6, 2017, in the journal Nature Astronomy details a black hole that's taken a record-breaking decade to devour a star 1.8 billion light-years from Earth. (NASA/Chandra X-ray Observatory/M.Weiss via AP) More CAPE CANAVERAL, Fla. (AP) Scientists have detected a black hole that's taken a record-breaking decade to devour a star and it's still chewing away. The food fest is happening in a small galaxy 1.8 billion light-years from Earth. University of New Hampshire research scientist Dacheng (dah-CHENG) Lin said that black hole feeding frenzies have been observed since the 1990s, but they've lasted just a year. At 11 years and counting, this is the longest known one yet. Lin and his team used data from orbiting X-ray telescopes to study the monstrous munching. X-ray flares erupt when a star gets swallowed by a black hole and cooked millions of degrees. Black holes clearly like their stars well done. "We have witnessed a star's spectacular and prolonged demise," Lin said in a statement.