Investment Markets Overview – w/e 28 June 2013

Silvio Berlusconi, the three-time Prime Minister of Italy, was back in the news this week when he was found guilty of paying a minor for sex and for abuse of power. The colourful 76 year old billionaire, already a twice convicted lawbreaker, was sentenced to seven years in jail and given a lifetime ban from public office. We’ll leave it to others to discuss and debate the gory details of his philandering, choosing instead to focus on the tensions that will intensify on the make-shift two month old Italian government. The coalition which “supports” Prime Minister Enrico Letta depends on Berlusconi loyalists as well as other factions who have been vehemently opposed to “Teflon Silvio” since his entry into politics 20 years ago. Furthermore, Berlusconi will not face immediate jail-time, as sentences aren’t enforced until all appeals are exhausted, which helps to explain why he is not already behind bars for the guilty verdicts in respect of his tax-fraud and wiretapping convictions. His ongoing presence in Italian politics will continue to weaken the government and the countries credibility at a time when it has a massive schedule of “debt roll-over,” which needs ongoing support. Higher Italian bond yields look to be a given.


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

  • US economic data . . .

  • Euro-Zone   . . .

  • The UK . . .

  • Out East   . . .

  • The $US index  . . .

  • Within the commodities complex  . . .

  • Economic data due next week includes  . . .

  • It’s been a tricky one for the equity bulls and for the bears also,  . . .

  • Charts:-
    1. Indices Weekly
    2. US New Home Sales vs US Consumer Confidence
    3. UK Average House Prices Nationwide vs UK Mortgage Approvals
    4. YTD Net Equity by Foreign Institutional Investors (USD bin)
    5. $US Gold Price vs N American Gold Mines XAU
    6. Indices Quarterly


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

“Life is like a penis, sometimes it gets hard for no reason at all

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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