Investment Markets Overview — W/E 11th April 2016

Labelled as “the biggest data dump in history,” the so called “Panama Papers” are having far reaching effects, not just in political circles, but for business and indeed for life in general. It is by far the largest and most damaging cyber-attack on record to date, releasing 11m+ documents including information on 200,000 plus offshore companies and 14,000 clients of Mossack Fonseca, apparently one of the largest facilitators of offshore companies and trusts in the world. Furthermore, the leaked information, initially to a German newspaper and subsequently shared with the “International Consortium of Investigative Journalists,” allegedly includes 12 heads of state, over 150 politicians, multiple financiers of terrorism and a fair sprinkling of CIA-linked companies. It claimed its first political scalp this week, as Iceland’s Prime Minister, Sigmundur David Gunnlaugsson, resigned, with the British Prime Minister, David Cameron, having a rather uncomfortable time trying to justify his late Father’s offshore activities. The largest corporate merger in history, valued at $US160Bn between Pfizer and Allergan, was pulled due to rushed-through proposed new regulations by the Obama administration, which would make it harder for the group to benefit from low Irish tax rates. The recent public spats between politicians and the likes of Apple, Google and other multi-nationals over paying their “fair-share” in respect of taxes, will no doubt ratchet up a gear and include the many companies who seek fiscal and regulatory arbitrage, such as FTSE 100 constituent Wolseley PLC, the world’s largest supplier of plumbing parts, which was founded in Australia, earns most of its revenue in the US, is listed on the London Stock-Exchange, domiciled in Jersey and pays its taxes in Switzerland.

8 April 2016

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 . . .

   Returning to the “Panama Papers” a “Socionominist” is more interested in the “why now” as to the “why” the leak was made……

Charts:
1.  Indices Weekly
2. US Consumer Credit V US GDP
3. UK Ave Apart Price V UK Ave House Price
4. Japan Ave Wages V  Japan GDP
5. Commodities Weekly

Table:

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

“Logic, unfortunately, also disappears as Social mood falls.

Click Here to view Details of the full version of this Newsletter which includes full text and detailed

 

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