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Obama and Loan Defaults: the Tremor of Banks

02-01-2010 10:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Investment24

Investment24 Research predicts a difficult year for bank stocks

Baech (Switzerland) January 29, 2010 – The recent tumble on the stock markets showed arrestingly that the rally of the last months has stopped for now.
In fact, positive news as the increased global outlook of the International Monetary Fund (IMF) stabilized quotes at the beginning of this trading week. However, the charts of the stock indices continue to show weakness.

Detached from general market development, bank stocks may continue to decline when President Obama follows up his plans. Wall Street is discomposed about the president’s plan to limit proprietary trading with client funds and the size of banks in general. “If these plans are realized, certain banks will have to revise their business model,” says Bernd M. Otto, CEO of Swiss based Investment24 AG.

European banks would be affected by this settlement as well. “After the British government and ECB Chairman Trichet welcomed President Obama’s plans, the probability of a multinational agreement has increased,” predicts Bernd M. Otto. Additionally, some European banks are facing adversity from another side in 2010. Analysts of the German Federal Bank estimate loan defaults for national banks in Germany between 50 and 75 billion Euros. Contrary to the United States, Germany was not affected by a real estate bubble. Nevertheless, perspective has depressed for German bank stocks.

In addition, both economic heavyweight nations in Asia are confronted with bad news. The rating agency Standard & Poor’s has cut its outlook on Japan’s AA credit rating to “negative”, while China’s authorities fear a financial bubble. “Despite of all reminders from the People’s Bank of China, banks even expanded lending in January 2010,” emphasizes Bernd M. Otto of Investment24 Research. He outlines finally that “real estate markets in many regions of China have lost any relation to local earnings. That could point to a strong overheating of China’s economy.”

Investment24 AG, based in Switzerland, informs its customers frequently about interesting opportunities on world stock markets. The company proves a performance of more than 350 percent since July 2007, it offers also a high degree of transparency – in contrast to other stock market letters or financial service providers. All transactions are reasoned in detail and added with background information. We naturally perform with a professional risk and money management. CEO and editor of the stock market letter is Bernd M. Otto, who is supported by an experienced staff.

Investment24 AG
Uwe Scheunemann
Seestr. 67, 8806 Baech, Switzerland
Phone +41 44 8870091

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