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A roundup of what The Globe and Mail's market strategist Scott Barlow is reading this morning on the World Wide Web.

A recent U.S. Senate study accuses Goldman Sachs Group Inc. and JPMorgan Chase & Co. of having acquired the power to manipulate commodity markets.

The New York Times reports the study found "that Goldman Sachs and JPMorgan Chase assumed a role of such significance in the commodities markets that it became possible for the banks to influence the prices that consumers pay while also securing inside information about the markets that could be used by the banks' own traders."

There are a number of threads to follow in this discussion. Importantly, Wall Street institutions have been rapidly divesting themselves of resource-related businesses, which is an interesting coincidence in light of recent commodity price weakness.

Most recently, Goldman Sachs was shopping their uranium trading business and, after finding no buyers, is now unwinding the operation. This also casts a pall over recent claims of a nuclear power and uranium price revival.

"Goldman's ties to New York Fed under fire" – New York Times' Dealb%k

"Goldman Sachs to wind down uranium unit after failing to sell" – Bloomberg

"Investors pull $17-billion from commodity index products" – Financial Times (Subscription may be required)

U.S. economic data remains relatively strong but Reuters summarizes why investors need to pay close attention to declining global growth. In the euro zone, "Markit's Composite Flash Purchasing Managers' Index for November, based on surveys of thousands of companies and seen as a good growth indicator, fell to 51.4, missing even the lowest forecast in a Reuters poll."

China's recent data also stinks. "The HSBC/Markit manufacturing PMI reading [for China] showed a drop to a six-month low of 50.0 in November. The factory output sub-index fell to 49.5, its first contraction since May."

This is not good news for domestic investors in commodities or indeed any industry sector where profits are sensitive to the global economy.

"Creaking euro zone, China sound warnings for global growth" – Reuters

We are entering the season of "Market Outlook for 2015" tomes from major research departments. Bloomberg's Joe Wiesenthal, however, posted a chart showing Goldman Sachs' record of equity market prognostication that strongly suggests investors shouldn't pay too much attention to any forecasts. If Goldman Sachs, arguably the most respected research team in the world, can't come close to accuracy, it's unlikely anyone else can either.

"Goldman's stock market forecast through 2018 is why stock market forecasting is a joke. " Goldman Sachs, Twitter

A CBC report argues that global corruption is a far bigger threat to global growth than terrorism, while using Mexico as an example. Mexico has been attracting auto sector investment away from Canada for a number of years; we'd all rather be competitive on our own merits, but if corruption reverses the investment trend to favour Ontario, I'll take it.

"Global corruption a bigger scourge than terrorism" – CBC News

"Good Mexico vs bad Mexico" – The Atlantic

Tweet of the Day suggests that China's recent efforts to open their asset markets to foreign investment will wind up as a non-event. "@finansakrobat Looks like @muddywatersre has found a new target: MUDDY WATERS ATTACKS SUPERB SUMMIT ACCOUNTS IN REPORT - RTRS pic.twitter.com/wO6XXRLVc6"

Diversion: "The macroeconomics of the Death Star, revisited" – Marginal Revolution

Follow Scott Barlow on Twitter @SBarlow_ROB

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