Last weekend marked the end of the band REM. They were never one of my favourite bands, but never the less produced many tunes I can sing along to when pushed.

One of their greatest hits was “It’s the end of the world as we know it (I feel fine)”. It felt quite apt last weekend as the world seemed to teeter on the edge of financial oblivion. On Monday I awoke and immediately looked to see how the Asian markets had reacted to the inconclusive meetings held over the weekend.

Well there was a slight wobble early on Monday, but here we are on Tuesday afternoon with the UK market up over 3% today and now over 5% higher than it’s lowest intra-day point. Once again the press had got it wrong.

If something is cheap enough, then people will buy. This seems to happen around 5000 points currently. The volatility is far from over but I don’t think it’s the end of the world as we know it.

And REM? What will happen there? Well probably not the end of the world either. All the publicity will result in people like me buying their greatest hits album if it’s cheap enough.