Investment Markets Overview – w/e 28 Feb 2014

The Royal Bank of Scotland made a loss last year of £8.2bn, its sixth consecutive annual loss, taking its cumulative losses to £46bn, which neatly equals all the money invested in it by the UK tax-payer six years ago for an 81% stake when the lender came close to collapse. Excluding a £3.8bn bill for customer mis-selling compensation and a £4.8bn impairment charge against the continued run down of its bad loans, RBS reported an operating loss for the year of £2.5bn, yet still managed to put aside £576m to pay staff bonuses for 2013, presumably so that they do not lose these “talented individuals?” Commenting on the results, the chairman of the Treasury Select Committee, Andrew Tyrie MP, said, “Well after the crisis broke, bonus schemes have continued to reward failure. There are not enough signs that banks understand the need for radical reform of remuneration.” With an alleged 52% of Tory Party Funding coming from the Financial Sector, one shouldn’t expect any return for the beleaguered British tax-payer anytime soon.

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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  . . .
  • Fed Chair Janet Yellen’s partially delayed testimony before the Senate Banking Committee this week, repeated her dovish tone of a fortnight ago, . . .

Charts:

  1. Indices Weekly
  2. US Durable Good Orders vs US GDP Y on Y
  3. UK GDP Y on Y vs UK GDP Q on Q
  4. Japan Housing Starts Y on Y vs Japanese Overall Household Spending Y on Y
  5. Commodity 1 Week Moves

Table:                

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

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“A Chasm often Starts with a Split?

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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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