Investment Markets Overview – w/e 11 May 2012

Your editor omitted to confirm a “break in service” last week, due to the European, including the UK, May Day holidays, including the webmiester’s vacation. Apologies and welcome back.

What a troubled week it’s been, which included the return of the “Socialists” in France for the first time in 17 years, who state a wish to abrogate EU treaties and levy a 75% income tax on France’s wealthiest; an anti-austerity vote in Greece which saw the electorate turn away in droves from the mainstream politicians, leaving political chaos as up to 10 diverse parties horse trade their way to form a new government plus an anti-coalition vote in the UK local elections. Then we have Spain, where 10-year borrowing costs have surged above the 6% pa level once more, non-performing loans have quadrupled since 2007 to 8%, a seventeen year high, despite a six fold increase in “affordable” loans from the ECB and the country’s forth largest bank, Bankia, had to be partially nationalised, due to its immense debts and lack of collateral.

US economic statistics announced this week ……

Euro-Zone economic data released this week ….

Out East, Japan’s …..

The $US index …..

It was a tough week for commodities, . .

+ A list of 15 Indices is available on the full Newsletter with 11 columns of price detail information for accurate analysis

I could end the deficit in 5 minutes. You just pass a law that says that anytime it reaches more than 3% of GDP, all sitting members of Congress are ineligible for re-election . . . . . . . . Warren Buffett

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