Investment Markets Overview — W/E 13th March 2015

The bears came out of hibernation this week, despite disappointing US retail sales data being greeted as good news ref US interest rate delays. The bears were fed by tasty morsels from Euro-land and from China. As Greece was awarded a modest financial breathing space by way of a €550m lifeline from the Hellenic Financial Stability Fund, which no doubt would have had to be agreed by Germany, Greek Prime Minister Tsipras was busy upsetting the Germans. Commentating on the allegedly unpaid German WWII reparations he said, “After the reunification of Germany in 1990, the legal and political conditions were created for this issue to be solved, but since then German governments chose silence, legal tricks and delay.“ He went onto say, “there is a lot of talk at the European level these days about moral issues. Is this stance moral?” Tsipras added that “despite the crimes of the Third Reich and Hitler’s hordes, the German debt was written off” observing that Greece is now seeking to recoup the reparations which may amount to as much as 80% of Greek GDP, or €160BN! Meanwhile, China reported that property sales fell in the two months of 2015 by the most in three years amid a glut of housing supply. Aside of this sector of the Chinese economy having a major effect on domestic consumption, it has also been used to leverage real estate purchases the world over.

13 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 . . .

This weekend, on the 14th March to be precise, maths nerds’ celebrate Pi day……

Charts:
1.  Indices Weekly
2. US Wholesale Sales  V US Wholesale inventories
3. Portugal 10-Yr Yield V Greece 10-Yr Yield
4. Japan Consumer Confidence V Japan PPI
5. Commodity YTD  Moves

Table:

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

“Measure the distance between your feet and your belly-button as a % of your height .

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