![]() There were only a limited number of colour text mode available, with white on a dark colour seeming a good choice.Īnd the blue? "Put simply, because John's dev machine was a MIPS RISC box, and the firmware on that machine was white on blue. The choice came down to the lowest common denominator for the video hardware on which NT ran. As Plummer pointed out, "Windows was not the original UI for NT, the OS/2 Presentation Manager would have been." Plummer tracked down the developer behind Windows NT's blue screen (who he identified as John Vert having trawled through the code.) The blue? Nothing to do with labs, or earlier incarnations of Windows. Windows NT was considerably better at dealing with errant processes, but why blue for its bugcheck? A tribute to the precedent set by Windows of old? Perhaps just a quick way of knowing which machine in the test lab had fallen over? Raymond Chen laid claim to the blue control-alt-delete screen (or dialog) of Windows 3.1 itself, however it was Steve Ballmer that infamously came up with the text to give the user the opportunity to try and kill the non-responsive app. It was not quite a BSOD (indeed, Windows 3.1x could crash back to MS-DOS when the wheels properly came off) and being triggered by hitting ctrl+alt+delete when a program stopped responding, the screen (or dialog) was both blue and an indicator that all was not well. It was an indicator that a Bad Thing had happened, yet it wasn't until the advent of Windows 3.1 in April 1992 that things got a little more informative and helpful with what Plummer called "the control-alt-delete" screen. The early blue screens merely threw up garbage that was generally unreadable. While today's BSODs are generally the result of something like an iffy driver, and tweaks to the user mode driver model have improved things, screens of blue have been a fixture of Windows since v1.0. It's supposed to be robust and secure and trustworthy, meaning 'borked' was not really in our vocabulary." "With NT," said Plummer, "it's not so simple. In the early days it was sometimes possible to carry on in the hope of saving that almost-finished opus before the operating system threw in the towel once and for all. Spot gold added 0.4% to $1,817.40 an ounce.It was not always thus. crude fell 0.85% to $75.67 per barrel and Brent was at $82.25, down 1.09% on the day. Oil prices declined on Monday as the dollar's recent strength discouraged buying, though losses were limited by supply concerns after Russia halted exports to Poland via a key pipeline. It was last down 0.5% on the day, pushed in part by gains in the pound, which gained about 1% as British Prime Minister Rishi Sunak struck a deal with the European Union on post-Brexit trade rules for Northern Ireland. It has risen by around 2.5% this month against a basket of major currencies, which would mark its strongest monthly performance since September, when it hit 20-year highs. The dollar has been the main beneficiary of the shift in expectations for Fed rates. "The risk is clearly skewed toward greater action from the Fed," Kasman said. ![]() ![]() Germany's 2-year bond yield broke above 3.0% on Friday for the first time since 2008. Money markets show traders believe the European Central Bank and the Bank of England will have to lift rates to a higher peak and leave them there for longer.īruce Kasman, head of economic research at JPMorgan, has added another quarter-point hike to the ECB outlook, taking it to 100 basis points. It is not just the United States where investors believe the central bank will have to keep raising rates to reduce inflation. The STOXX 600 (.STOXX), which last week lost 1.4%, was up about 1.1%.Įconomists at British banks Barclays and Natwest both said they believe the Fed could raise rates by as much as half a percentage point in March, well above the quarter-point that markets have priced in. STOCKS RECOUP SOME LOSSESĮuropean stocks bounced back on Monday, as typically rate-sensitive sectors such as oil and gas and technology picked up after falling sharply last week by 1.4% and 3.8% respectively. Treasury yield fell 2 basis points to 4.785%, while 10-year Treasury yields dropped 2.3 basis points to 3.926%. two-year Treasury yields, the most sensitive to shifts in interest-rate expectations, have risen almost 80 bps in that time, while the S&P 500 (.SPX) has lost 6% from Feb. When the Fed concluded its last policy meeting in early February, prior to the release of bumper January employment, consumer spending, and business-sector activity data, markets showed traders expected a peak rate of 4.73%, meaning that almost an extra three-quarters of a point is now priced in. Fed futures now have rates peaking at around 5.4%, implying at least three more hikes from the current 4.50% to 4.75% band, and some chance of 50 basis points in March. ![]()
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