Investment Markets Overview — W/E 13th February 2015

We must acknowledge we sometimes failed to live up to the standards the societies we serve rightly expected from us,” said HSBC’s current CEO, Stuart Gulliver, as revelations on alleged assistance by its Swiss division in respect of mass tax evasion by some of the Swiss bank’s wealthy clients, including establishment figures in the UK, were released. At the heart of the matter are the stolen data records by former HSBC IT employee, turned whistleblower, Herve Falciani, who initially handed the information to the French authorities who subsequently offered it to other governments around the globe. According to a BBC Panorama documentary aired this week, the accounts relate to 106,000 clients in 203 countries, going on to report that HSBC now faces criminal investigations in the US, France, Belgium and Argentina, but not in the UK, where HSBC is based.Falciani, dubbed the Edward Snowdon of Swiss banking, confirmed that he had sent an email offer to the British tax authorities and to the foreign office, but neither of them can recollect receiving it. This show is likely to run for a while yet as both of the main British political parties have ties to the former HSBC boss, Lord Green, who was on watch at the time, not to mention the numerous political donors who appear to be on the  leaked list.

13 February 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 . . .

There were two other big events this week, one on the Ukrainian conflict and the other on Greece’s mountain of Debt……

1. Indices Weekly
2. US Sentiment  V US Retail Sales
3. E-Z GDP V German GDP
4. China CPI V Food  CPI
5.Commodity YTD  Moves


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

“Act on Facts, Not Speculation.

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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