Salient to Investors: Silver ETP holdings are near October’s record while money managers reduced bullish wagers by 95% – Coeur Mining has hedged a third of its production through Q1 2015. Retail investors account for 80% of US ETP purchases and expect long-term growth to spur industrial demand from solar
READ MORE... →Salient to Investors: BIS said unprecedented stimulus by central banks and historically low volatility levels across asset classes have made it more likely that emerging markets will destabilize. BIS said governments and companies from Latin America to Asia have boosted borrowing in local and foreign currencies, leaving them more vulnerable when
READ MORE... →Salient to Investors: The shares outstanding in iShares TIPS Bond ETF exceeded those of the FlexShares iBoxx 3-Year Target Duration TIPS Index ETF by the lowest on record, indicating investors are betting the Fed will achieve its price-stability goals. Overall inflows to ETFs tracking US inflation in 2014 are at
READ MORE... →Salient to Investors: The S&P 500 has closed at new highs 33 times in 2014, while less than 6% of stocks are in bear markets. 47% of Nasdaq Composite stocks and over 40% of Russell 2000 and Bloomberg IPO Index stocks are at least 20% off their 12-month highs. 45% of
READ MORE... →Salient to Investors: Martin Connaghan at Aberdeen Asset Mgmt said: Buying industrial stocks with stable revenue and selling health-care stocks as uncertainty about the global economy has caused cyclicals to lag pharma and other defensive stocks by a margin that is too wide to ignore. The outlook for cyclical stocks
READ MORE... →Salient to Investors: The FTSE 100 Index is within 0.1% of its 1999 high, after which it fell for 3 years, The cost of hedging against losses in the FTSE 100 is close to a 2-year high. Alan Higgins at Coutts is not overweight UK equities and said the FTSE
READ MORE... →Salient to Investors: P/E ratios among the 50 largest companies in the S&P 500 Index deviate from the mean by an average 22%, nearly the lowest on record since 1990. An average of 380 Index companies rose in each of the last 5 years, versus 307 in the 1990s. In 2007,
READ MORE... →Salient to Investors: Gold prices and gold ETP holdings have the most-negative correlation since 2004, making the latter less useful as market predictors.. Mark Luschini at Janney Montgomery Scott said the disconnect is because a lot of money has left. Comex open interest fell to a 5-yr low this month and volatility
READ MORE... →Salient to Investors: Alexander Antipov at Veles Capital said investors are cautiously optimistic as there are talks and there have been no new sanctions on Russia. Antipov said Russian equities are very cheap, and long-term investors will make serious profits when the Ukraine crisis is solved and things return to
READ MORE... →Salient to Investors: The value of equities globally is at a record $66 trillion versus $25 trillion in March 2009 and $63 trillion at the 2007 peak. The US stock rally is approaching the dot-com bubble in terms of speed, but not in valuations – at 16.8x estimated earnings versus 26x at
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