S&P – Almost overbought as @realDonaldTrump Tweets: ‘’STOCK MARKET AT ALL-TIME HIGH! HOW ARE YOUR 401K’s DOING?’’ Chart/Levels from Analyst, Nicole Elliott – Investors Chronicle.

 

Debt accumulation warning from World Bank

‘’Tend to have unhappy endings’’

This week the Washington-based World Bank published its bi—annual Global Economic Prospects report, writes CNBC today. They point out that over the last 50 years the world has seen 4 waves of debt accumulation and that the latest one, which started in 2010 was ‘’the largest, fastest and most broad- based increase’’ where historically low interest rates may not limit the chance of financial meltdown. Director of the group Ayhan Kose noted: ‘’The history of past waves of debt accumulation shows that these waves tend to have unhappy ending. In a fragile global environment, policy improvements are critical to minimize the risks associated with the current debt wave.’’

Today City AM reports that the UK’s Financial Conduct Authority is planning to impose a single interest rate to be applied across all easy access savings accounts at all banks. Christopher Woolard, its director of strategy and competition said: ‘’competition is not working well for many of the 40 million consumers…and we want that to change’’.

Financial Markets and Political Commentary

 

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