Investment Markets Overview – w/e 7 Dec 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 provisional Q312 GDP came in   . . .

  • For the UK, November PMI manufacturing exceeded forecasts . . .

  • Out East, Japanese November vehicle sales   . . .

  • Elsewhere, PMI manufacturing in China   . . .

  • Within the commodities complex  . . .

  • Economic data due next week includes  . . .

  • Returning to the UK’s debt problems . . .
          

  • Charts:-
    1. Indices Weekly
    2. US Average Hourly Earnings YonY
    3. Reduction in Deficits
    4. Oz GDP vs Oz RBA Cash Rate
    5. Gold Market Timing 

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

“A Politician is a person who will lay down your life for his country”

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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