Investment Markets Overview – w/e 13 Dec 2013

The ghost of Bernie Madoff rose once more this week, in the guise of a CNBC report that says the fraudster claims to have helped US federal regulators over JP Morgan’s alleged role in the largest ponzi – scheme in history. In 2009 Madoff admitted that for years, rather than executing trades for his clients, he had funnelled their money into a single Chase bank account and has subsequently stated that JPM, who was Madoff’s primary banker for decades, had to know about his fraud. Whilst J P Morgan Chase & Co, as they are now known, deny the allegations of turning a blind eye to the activities of a major depositor and of selling structured products based on Madoff’s purported returns, even though it was in a position to know the returns were suspicious, they are apparently in talks with the US authorities on a $US 2BN settlement over its alleged role. Meanwhile, the trustee for the Madoff liquidation, Irving Picard, sued the bank for $19 billion, claiming it was “at the very centre of the fraud, and thoroughly complicit in it.”

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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 furore over the recommendation that UK Members of parliament should receive an 11% pay-hike shines a light on the body that made the recommendation, the Independent Parliamentary Standards Authority (IPSA,) . . .
  • Charts:-
  1. Indices Weekly
  2. US Households Net Worth vs US Stock-Market Cap
  3. Greece CPI Y on Y vs Greece GDP Y on Y
  4. China CPI Y on Y vs Beijing House Prices Y on Y
  5. Commodity 1 Week Moves

Table:-

  • 13 Indices, 11 columns of detailed information, for accurate analysis

“Cut everyone else but don’t cut me”    

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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