Investment Markets Overview – w/e 20 Sep 2013

Ben Bernanke and his colleagues at the Federal Reserve duped the market at this week’s FOMC meeting after weeks of speculation of its intention to start “QE tapering” at its September meeting. $15BN per month was suggested as appropriate only last week by fellow board member, Esther George, with a recent Bloomberg News survey of 34 economists showing a consensus of $10BN per month, labelled “taper light.” In the event, the Fed decided to “taper later,” sending asset prices of all stripes sharply higher as investors’ continued to believe the “myth” that the Fed controls market interest rates, economic growth and inflation. One look at the market facts, however, and it’s patently obvious that neither the Fed, nor any other Central Bank does. In fact, Bernanke’s delay confirms just how worried they are about the lacklustre pace of economic data and it will undermine the public’s perception that the folk at the Fed actually knows what they’re doing.

130920_chart

 

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  . . .

  • The new Bank of England boss, Mark Carney, is having to earn his substantial benefits package,  . . .
     

  • Charts:-
    1. Indices Weekly
    2. US CPI
    3. Spanish Banks’ Loan Delinquencies as a Proportion of Total Loans
    4. Japanese Exports Annualised vs Imports + Spot Yen
    5. Commodity 1 Week Moves

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

  “There have been great inventions over the centuries, but central banking isn’t one of them” 

     
Due to holiday commitments next week, the next week-ending will be for the 11th October 2013

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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