Investment Markets Overview — W/E 19th June 2015

The impasse between the Greek Government and its major creditors became increasingly acrimonious this week, with insults lobbed between the Greeks and the IMF and an apparent intransience between the Greeks and the EU Finance Ministers. Adding to the mix were ongoing calls for more emergency funding from the ECB, who duly provided sufficient to meet the increased rate of bank withdrawals from domestic Greek residents. With Greek bank deposits stated to be at a 10-year low, the ECB has warned that its banks may not open on Monday, hence the call for an emergency summit of European leaders on Monday as matters are fast coming to a head. Despite the relative inexperience of the newly elected Greek leadership, they have put up a sterling defence against the opaque and somewhat bullying tactics employed by the EU and IMF professionals, which has included a thought-provoking analysis of the “gap to be bridged” by the Greek Finance Minister, Yanis Varoufakis, which can be found here. It paints a different picture than the one trotted out by the EU spin machine and the so called “quality press.”

19 June 15 .

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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 . . .

Whilst all eyes are focussed on the Greek debt problem, China’s stock-market bubble fuelled by an even larger debt bubble, may,  ……

Charts:
1.  Indices Weekly
2. US Bloomberg Consumer Comfort V US GDP
3. UK Average Earnings V UK CPI
4. Japan Trade Balance V Japan Imports and Exports
5. Commodity YTD  Moves

Table:

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

“If Debt Was the Prerequisite to Economic Prosperity, Zimbabwe would be the richest country on earth…. and it Isn’t.

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