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.”


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


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

“Cut everyone else but don’t cut me”    

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which includes full text and detailed Charts for each section



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