Rumors: Did Tiger's divorce affect Swedish currency trading?
Even at his post-scandal lowest, Tiger Woods remains the most powerful man in sports, or at least the only one known to affect financial markets.
On Monday, when Woods’s divorce was finalized, the Swedish krona gained value against the U.S. dollar, and some Citigroup traders suggested that Woods’s divorce from Swedish Elin Nordegren might have been the reason, according to The Wall Street Journal.
The golfer’s divorce from his Swedish wife was finalized on Monday, just as the krona started to edge up against the dollar. Since then, it has sunk back down, with no obvious fundamental reason for either shift.
The dollar has “bounced out of the rough” against the krona, Citi joked.
The Woods effect may be a spurious rumor, but “you never know,” it said.
It does make sense. The size of the divorce settlement is unknown, but it’s likely to be on the chunky side. Markets are generally quiet, and it doesn’t take much to move them around. A few million dollars’ worth of krona buying by Woods would certainly do it.
It wouldn’t be the first time the "Tiger Effect" was felt on Wall Street. During the 2008 U.S. Open Monday playoff between Woods and Rocco Mediate, Wall Street trading dropped more than 9 percent.
*In other Tiger news, Bloomberg News reports that golf fans no longer want the Nike shirt off Tiger's back.
Golf apparel sales overall are on the rise, signaling consumers are returning to the course, just not to Woods. Nike gets about 10 percent of its golf sales from the Woods brand, whose shirts, jackets and pants are among the most expensive clothing the sportswear maker sells. “Apparel is hot right now,” said Laura Dowdy, the clothing buyer for Roger Dunn, which has more than 20 stores. “Everything -- Adidas, Puma, Nike, except the Tiger brand.”Our men's style source cautions that this doesn't necessarily mean fans are turning on Woods. The Tiger Woods collection is a high-end line, and during a recession people might reasonably shy away from buying $80 golf shirts.Then again, it's hard to imagine anyone other than Woods wearing the TW logo without irony.
Monty faces tougher Ryder Cup decisions than PavinIn the United States, most of the Ryder Cup controversy centers on whether Team USA captain Corey Pavin will select Tiger Woods for the team with one of his captain's picks (if he hasn’t already), but the real controversy is happening overseas, where Colin Montgomerie’s comments earlier this year that he wants to use his captain’s picks on players who support the European Tour are being tested by top European players like Padraig Harrington and Paul Casey playing the Barclays this week in New Jersey instead of the Johnnie Walker Championship in Scotland despite having not qualified for Team Europe on points. The Daily Mail’s Derek Lawrenson neatly outlines Monty’s dilemma:
How can he not be looking at Edoardo Molinari, Alvaro Quiros and Robert Karlsson, who will all be at the Johnnie Walker Championship, and all appear such obvious partners for Francesco Molinari, Miguel Angel Jimenez and Hanson respectively?That’s a lot more troubling than having to explain to Rickie Folwer why you’re going with Tiger Woods for the team. USGA penalizes 12 players for slow-play at U.S. AmateurThere are a lot of great stories to watch at the U.S. Amateur this week: Ben Hogan award winner Nick Taylor playing what amounts to a home game at Chambers Bay near his University of Washington fans, 47-year-old Californian Jeff Wilson’s opening 62, and defending champ Byeong-Hun An’s attempt to repeat.
That's one side of the argument. Here's the other.
It's a Ryder Cup in the UK, the crowds are going to be rooting particularly for players from the UK, so why wouldn't you choose players from these shores?
How do you look your friends in the eye, men like Harrington and Casey, men who have won majors in the case of one and been in a fixture in the world's top 10 in the other, and tell them they will be sitting this one out?
How can you overlook Donald, the world No 10 and a man with a good Ryder Cup record?
How can you not pick Rose, a star of the last Ryder Cup and one half of a partnership with Ian Poulter with the potential to be the team's heartbeat?
When Sir Nick Faldo stuck to his guns last time and chose Casey and Poulter rather than men who played the tour week in, week out, no-one fumed more than Monty.
What's he going to do now?
Does he give the European Tour a huge shot in the arm by sticking with its footsoldiers or does he go for the glamour boys? Stay loyal to his instincts or stay loyal to his mates?
But what caught our eye today was the USGA docking 12 players with one-stroke penalties (Via The Tacoma News Tribune):
Members of four groups – a combined 12 golfers – were assessed one-stroke penalties for failing to meet the pace-of-play standard at hole checkpoints through their round.
“That’s not necessarily abnormal for the U.S. Amateur,” said Mike Davis, the USGA’s senior director of rules and competition.
One of those groups was the first one out Monday morning – Ryan Peterson, of Eagan, Minn.; John Murphy, of Wilton, Conn.; and Colby Smith, of Auburn, Calif.
At the first checkpoint, the group was one minute behind and received a warning. At the second checkpoint – the ninth hole – the players lagged behind three minutes, and were given the penalty.
Another thing you won’t have to worry about when you turn pro, boys.