Investment Markets Overview — W/E 6th March 2015

China’s National People’s Congress was held this week where a set of key economic targets were announced. 2015 GDP growth was lowered to 7% from 2014’s 7.5%, the lowest target in 15-years, whilst investment and retail sales growth targets were downgraded which is hardly surprising given the recent trends for both. Premier Li Keqiang also outlined a CPI target of 3%, the creation of 10m new jobs to ensure that unemployment does not exceed 4.5% and a projected budget deficit of 2.3% of GDP for this year. With the Global economy grinding ever slower it is understandable that China is trying to encourage a consumption-driven economy as its exports suffer, but this only appears to work with an ever increasing take up in credit use. The private sector has done a sterling job here, increasing its international debt by 800% since early 2009, but with the Dollar and dollar interest rates now on the move higher, Premier Li’s ambitions may be thwarted.

6 March 2015

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Additional Commentaries:
•US economic data . . .
•Euro-Zone . . .
•The UK . . .
•Out East . . .
•The $US index . . .
•Within the commodities complex . . .
•Economic data due next week includes . . .

The ECB Governing Council held their monetary policy meeting in Cyprus this week where……

Charts:
1. Indices Weekly
2. US Personal Incomes  V US Personal Spending
3. Euro-Zone Non-Performing Loans
4. HK Retail Sales V HK Visitor Arrivals from Mainland China
5.Commodity Moves

Table:

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

“Insanity: doing the same thing over and over again and expecting a different result”

Albert Einstein

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