Sun, 25th June 2017

Anirudh Sethi Report


Archives of “Harshad number” Tag

Out of 690 new MLAs 192 have criminal cases, 540 are ‘crorepatis’: Report

Of the 690 newly elected MLAs to the five state assemblies as many as 192 have criminal cases against them, while 540 of the total are ‘crorepatis’, says a report.

National Election Watch (NEW) and Association for Democratic Reforms (ADR) have analysed jointly the self-sworn affidavits of 689 out of 690 newly elected MLAs in the five states of Uttar Pradesh, Punjab, Uttarakhand, Manipur and Goa. Details of one candidate have not been analysed.

“Out of the 689 MLAs analysed, 192 (28 per cent) MLAs have declared criminal cases against themselves,” the ADR report said.

Besides, 140 MLAs have declared serious criminal cases including cases such as murder and attempt to murder, up from 100 in 2012.

Uttar Pradesh has 36 per cent MLAs with declared criminal cases, followed by Uttarakhand (31 per cent), Goa (23 per cent), Punjab (14 per cent) and Manipur (3 per cent).

Moreover, there are 27 per cent MLAs with serious declared criminal cases in UP, Uttarakhand (20 per cent), Goa (15 per cent), Punjab (9 per cent) and Manipur (3 per cent), it said.

European stocks close modestly higher. Spain’s 10 year yield falls below 1%

  • Euro stoxx flat
  • France CAC up 0.1%
  • German Dax up 0.7%
  • Spain’s Ibex up 0.3%
  • UK FTSE up 0.2%
In the European debt market, Spain’s 10 year bond yield dropped below 1% for the first time ever.  On June 24th, the yield tested the 200 day MA at 1.62%. Since then, the yield has fallen sharply as investors flocked toward yield enhancement and Brexit fallout sent the yield sharply lower.
Other European 10 year yields:
  • Germany -0.65%, unchanged
  • France 0.154%, unchanged
  • Italy 1.128%, -1 basis point
  • Portugal 2.828%, -4 basis points
  • Spain 0.995%, -2 basis points
  • Greece 8.304%, -1 basis point
  • UK 0.603%, -7 basis points

JP Morgan on the yen: USD/JPY going back to 110, and equilibrium below 100

Bloomberg report on the views of JPMorgan’s Tohru Sasaki, Tokyo-based head of Japan markets research

  • Sees USD/JPY to 110 in 2016
  • Sees the equilibrium at “below 100” but says this doesn’t see that as meaning it’s the end of the recovery in corporate profits
  • “What investors like to hear is that the yen is weak and stocks are up — but if everyone’s constantly betting that way, at some point they’re going to get burned”
  • “It’s possible that equity prices keep going up forever, because everyone is working to maximize their returns. But in the forex market, it will never happen — there’s an up and down.”

His comments are part of the latest Bloomberg survey on USD/JPY. he was most bullish on the yen

  • 60 forecasts compiled
  • The consensus call is at 125

More here at Bloomberg