Investment Markets Overview – w/e 1 June 2012

Last week we mentioned a new word had entered the financial media, “Grexit.” This week there is a new phrase, “Delay and Pray,” a policy being used by Spain in respect of masking the true exposure of its banks to soured property loans. The Economic Minister says that Spanish banks have Euro 184BN of developers loans that are “problematic,” with a further E123BN reportedly “performing.” However, the latter figure is deemed to be performing due to the banks reluctance to value the underlying real estate assets at, “mark to market,” because there isn’t a market, whilst providing additional personal loans to some owners of the larger developers, so that they can give the illusion of servicing the company debts. This is all very reminiscent of the Ireland, according to a Nomura International report, which suggests that a further Euro 76.5BN may yet have to be added to the problematic side of the ledger.

Subscribe to the Full Investment Markets Overview Newsletter which contains the following additional content:-

  • US economic statistics announced during this holiday shortened trading week . . .

  • Euro-Zone forecast consumer confidence for May, . . . .    

  • UK manufacturing shrank in May . . .

  • Out East, Japan’s unemployment rate rose to . . .

  • The $US index . . .

  • For the commodities complex it was a roller coaster week  . . .

  • As European banks implode, bringing down with them the Sovereign debt markets, one may wonder why the non-European markets have been hit so hard. . . .

  • Charts:-

    1. Indices Weekly
    2. Above 50 = Economic Growth
    3. Japan Tops G-7 as Most Indebted Nation
    4. The World’s Lowest 10-Year Government Yields
    5. European Exposure
  • Table of 15 Indices, 11 columns of detailed information, for accurate analysis

“Without reflection, we go blindly on our way, creating ever more unintended consequences

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which includes full text and detailed Charts for each section

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