Investment markets Overview – w/e 30 Nov 2012

After three years of false starts and Euro 240BN in loan pledges, European and IMF officials announced their latest effort this week, hailing it as,” a milestone in fighting the debt crisis,” an echo of the past two loan packages description. To increase their chances of success this time around they have cut the rate charged on bale-out funds and suspended interest payments for a decade. Furthermore, they have given Greece another 15 years to pay back certain loans and engineered a Greek bond buyback, at 35 cents on the Euro, assuming that creditors accept this, which has to be completed before the IMF chip in their part of the Euro 34.4BN loan instalment to be paid in December. Finally, the ECB will pay its profits from its Greek bond holdings into the rescue program, from where national governments will allocate their share of the profits to Greece’s bailout account, thereby circumventing the rules that bar the politically autonomous central bank from directly lending to the state.

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

  • US economic statistics released this week  . . .
  • Euro-Zone economic confidence improved   . . .
  • Regardless of all the talk of austerity within Europe . . .
  • Out East, Japanese small business confidence fell   . . .
  • Elsewhere in Asia  . . .
  • The $US index was little changed   . . . 
  • Within the commodities complex  . . .
  • Economic data due next week includes  . . .
     
  • Charts:-
    1. Indices Weekly
    2. Shopper Track Retail Traffic vs Consumer Confidence
    3. Social Protection Expenditure as % of GDP
    4. Japan Housing Starts Year on Year
    5. Most Recent Forecasts for West Texas Intermediate

 

 

Table of 15 Indices, 11 columns of detailed information, for accurate analysis

Spending other people’s money is natural to politicians, bureaucrats and now bankers

Click  HERE to view Details of the full version of this Newsletter

which includes full text and detailed Charts for each section

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