Investment Markets Overview — W/E 23rd January 2015

It was another busy and volatile week, which included President Obama’s “State of the Union address,” a non-event excepting the ratcheting-up of the wealth inequality debate; central bank monetary news from the Bank of Canada, Brazil, Japan and, of course, the ECB, whilst the great and the good met up in Davos for the World Economic Forum and Greece voted. A brief update first on the aftermath following last week’s Swiss National Bank bombshell, which saw the 24-year-old hedge-fund, Everest Capital Global, wiped out of its $830m of client’s assets with many other HF’s also rumoured to be in trouble. Returning to the CBs, Canada surprised the markets by cutting interest rates for the first time since 2009, by 0.25% to 0.75%, whilst the Brazilian CB hiked its rate by 0.5% to 12.25% as Japan’s Kuroda slashed the Bank of Japan’s inflation forecast to 1% and confirmed its intention to expand its already rabid debt expansion. The ECB over-delivered on the well-flagged QE number, going for a bond-buying programme from March of €60bn of assets each month until the end of September 2016 or until inflation displays a sustained improvement. Meanwhile, Greece has elected the first anti-austerity party in the Euro-land, which will create even more uncertainty and volatility in the months ahead.

23 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 . . .

Digging a little deeper into China’s Q414 GDP numbers, the unchanged annualised 7.3% isn’t quite as rosy as it first appears ……

Charts:
1. Indices Weekly
2. US House prices V US Housing Starts
3. UK Unemployment V UK Average Wages
4. Shanghai Comp V China Margin Debt
5.Commodity YTD  Moves

Table:

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

Statistics are rarely what they first appear

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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