A month ago there was confident expectation of another bumper crop of city bonuses at the end of the year. Those expectations have now evaporated, to be replaced by fears of redundancy in the financial sector.
No-one can be quite sure how the current 'subprime' crisis will map out, but it looks fairly certain that when the dust settles, the bloodiest noses will be in the financial sector, with few institutions escaping unscathed.
As a result, wantonly indulgent Christmas parties may be a bit thin on the ground in the City this Xmas...
The auction market for top wines went a bit loopy in the first half of the year, and port prices were not immune.
The first catalogue for the new auction season is now out, and the estimates look more than a little ambitious..
If you were a London or New York wine merchant, would you be topping up the stocks of Petrus right now?
I suspect we will see many lots go unsold this autumn..
I may be drunk, Miss, but in the morning I shall be sober and you will still be ugly - W.S. Churchill