DAX: Not yet overbought after last week’s little hanging man candle and it creeps above the psychological 13000 today. Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

JP Morgan switches from loans to bonds Petty cash on a $130 billion shopping spree

Ironically for the US’s biggest bank, excess cash is being switched from lending it out to buying bonds. This is because of changes to the provisioning of these two different types of bank assets, which views bonds a safer than lending money. The buying bonanza has seen the banking giant’s bond portfolio increase by 50 per cent, according to the Financial Times. It also means than a lot of paper will be locked away until maturity and yet another layer of liquidity removed permanently.

One among many of the electioneering promises being made is an increase in the New Living Wage and bringing the age of entitlement down to 21 from the current 25-year-olds. A survey published in City AM today, collated by KPMG, showed that full-tome employees currently earning the Living Wage compose 19 per cent of the population, down from 22 per cent last year. Part-timers on the other hand see 38 per cent earning less than the real Living Wage, making up 25 per cent of women and 15 per cent of men. Chairman James Stewart commented: ‘’what’s good for workers is good for business too’’, with measures to increase low pay ‘’an effective driver’’ of productivity.

Financial Markets and Political Commentary
 

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