Investment Markets Overview — W/E 9th January 2015

 2015 is starting as 2014 ended, with stock-markets under pressure and volatile. The final two trading days of December erased all of December’s gain for the SPX, whilst the opening full week of January saw November’s gains also eliminated with the Dow having its 5th worse start to the New Year since 1925. The catalyst, allegedly, is the snap election call by Greece’s fourth Prime Minister since its 2010 bail-out, Antonis Samaras, opening up the chance of another change, this time to the Syriza party, led by Alexis Tsipras. The “fear” of course, is that Syriza defaults on the country’s debt, put at 180% Debt/GDP versus 130% at the time of the $293BN bail-out, or at least a good part of it, and exits the Euro-Zone, thereby opening up a precedent for other highly-indebted members, such as Italy and Spain. Furthermore, an interesting article by Bloomberg, shows that the private sector, read banks, now only hold about 17% of Greece’s debt, with 10% held by the IMF, 8% by the ECB and the residue, 65%, by Euro-Zone governments, read the tax-payer. The article goes on to state that whilst Germany is liable for the lion’s share in actual money, as a percentage to GDP, Portugal and Cyprus, two economies already in trouble, are hit the hardest. Policy-makers idea of “fairness” has also carried through to 2015.

9 Jan 15

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 . . .

2015 has also continued with the almost universal belief that Central Banks……

Charts:
1.Indices Weekly
2. US Consumer Credit V US Ave Wages
3.E-Z Financial Conditions V US Financial Conditions
4.China CPI & China PPI
5.Commodity YTD  Moves

Table:

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

The Incompetent Many Elected by the Subservient Few

Click Here to view Details of the full version of this Newsletter which includes full text and detailed Charts for each section

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: