Investment Markets Overview – w/e 7 February 2014

The Bank of England was under scrutiny this week, initially as it left monetary policy on hold, followed by rather unsettling news that it may be dragged into another scandal just two years after it was criticised for failing to act on warnings about the Libor interest-rate fixing. UK base rates were left at 0.5%, the 59th consecutive month at that level, whilst QE (they prefer the term asset purchase target) remained at £375BN, but nothing was said on the “Governor’s policy guidance,” in respect of tying interest rates to the unemployment rate, which turned out to be no guidance at all. Rumour suggests that guidance will now be tied to the nation’s CPI rate, albeit that the central bank has spectacularly missed this forecast for five years and counting. Meanwhile, a Bloomberg report in respect of the ongoing “foreign exchange price fixing probe,” alludes to a private meeting of currency dealers and two central bank staff where the latter said that it wasn’t improper to share impending customer orders with counterparts at other firms, a practice which is at the heart of a widening probe into alleged market manipulation.

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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  . . .

  • It was in 2009 that Lloyd Blankfein, the then and now CEO and Chairman of Goldman Sachs, said, “I’m doing God’s work,”  . . .

Charts:

  1. Indices Weekly
  2. Federal Reserve Consumer Credit Total vs US Unemployment Rate Inverted
  3. BRC Nielson Shop Price Index M on M vs UK CPI Y on Y
  4. China GDP Y on Y vs Macau’s Gambling Revenue Y on Y
  5. Commodity 1 Week Moves

Table:

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

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“In God we Trust, but Bankers?

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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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