Week Ending 18th April 2014

Over the past few weeks we have commented on the massive leverage evident within the financial markets and indeed within the World’s most important Central Bank. We also included comment last week from the FOMC’s most hawkish member, where he warned on US margin debt and price-earnings ratios. An edition of The Wall Street Journal recently included an article entitled, “Stocks Stumble, but Hope Lingers,” in which it commented that a selection of investors’ didn’t think the overall market was dangerously high, stating, “although the NASDAQ is trading at a P/E of 35X and is higher than the long-term average of 32, it is nowhere near the index’s dizzying multiple of 175X seen in 2000.” Clearly forgotten appears to be the little fact that from the once in a lifetime manic extreme the NASDAQ crashed by 78% and still remains below its peak level some 14-years later.

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 . . .

Charts:
1.Indices Weekly
2.US housing starts v house prices
3.Euro-Zone CPI v credit growth
4.China GDP v credit growth
5.Commodity 1 Week Moves

Table:

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

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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