Investment Markets Overview — W/E 29 April 2016

Apple Inc, the world’s largest listed company, took a bruising this week as iphone sales took a bite out of the company’s quarterly earnings, lower for the first time in 13-years, with its stock price starting to crumble, lower by 11% on the week and by 30% over the past year. Reality has caught up with Apple in respect of China’s rapidly slowing economy, its major market for smart-phone sales, whose vast population has joined the collective conservatism growing around the wider world, a collective social mood of less spending and uncertainty, compounded by the irresponsible antics of the world’s central banking elite, all busy trying to create ever more debt to produce “stuff” for which there is already massive over-capacity, be it steel or smart-phones. Meanwhile, as it becomes crystal clear that any private sector saviour for the UK’s beleaguered steel industry would not take on it’s pension deficits, haemorrhaging by the day due to central bank initiated policies of zero and negative interest rate policies, the High St retail chain, British Home Stores, went into administration, not only jeopardising 11,000 jobs but adding a further £570m pension deficit to the “Pension Protection Fund,” a statutory fund set up in 2004 intended to protect pensioners if their pension fund becomes insolvent. The PPF is funded by a levy on the rapidly diminishing “defined benefit” pension providers, with the PPF’s first year levy raised at £130m it now runs at about £700m pa, with the collective DB pension deficit now allegedly at an eye-watering £250BN. There is more on BHS and the key CBs below.

 29 April 2016 3 

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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 . . .

   Returning to the BHS troubles it is worth a brief tour of history, starting with its birth in 1928,  ……

Charts:
1.  Indices Weekly
2. US Consumer Confidence V US Personal Consumption
3. UK Housing Transations
4. Japan Monetary Base V  Japan Money Velocity
5. Commodities Weekly

Table:

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

“This puts a whole new meaning to the pound store concept and just who is green?

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

 

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