Salient to Investors: Dan Heckman at US Bank Wealth Mgmt said Bernanke surprised the markets, which now have a real expectation of curtailment at some point, and unless growth turns very negative and inflation moves much lower, the Fed will not back away from the tapering viewpoint. Ian Lyngen at CRT
READ MORE... →Salient to Investors: Jim Rogers says: At some point markets won’t take central bank policies anymore, and interest rates will rise regardless of QE. Market timing is tough. Short junk bonds. In any market, the marginal stuff goes first. Read the full article at http://www.jimrogers.info/search?updated-max=2013-06-25T04:00:00-05:00&max-results=5&start=5&by-date=false Click here to receive free and immediate
READ MORE... →Salient to Investors: Jim Rogers says QE will end either because the central bankers are going to stop this insanity of printing money all over the world or the market is going to say ‘we don’t want your paper money’ anymore. Read the full article at http://www.jimrogers.info/search?updated-max=2013-06-25T04:00:00-05:00&max-results=5&start=5&by-date=false Click here to receive free
READ MORE... →Salient to Investors: If there is a chance to rig benchmark rates in world markets, someone will try. Charles Geisst at Manhattan College said time and again all these markets have been influenced by major market-makers – a polite way of saying they have been rigged. Barclays, UBS, and RBS have been fined $2.5
READ MORE... →Salient to Investors: Timo Boehm at Pimco has reduced bets on covered notes as Europe’s covered bond market falls out of favor as investors seek better returns on their risk – some highly rated alternatives including sovereign-backed and agency notes are much cheaper. Boehm said covered bond sales this year will fall
READ MORE... →Salient to Investors: San Francisco added 300 tech companies since 2010, helping it earn its highest credit grade in more than a decade, amid the worst losses this year in municipal bonds and with interest rates on munis at a 15-month high. San Francisco’s jobless rate is the lowest since 2008
READ MORE... →Salient to Investors: Aaron Kohli at BNP Paribas said it’s the calm before the storm for the Treasury market, so the bloodletting could continue a little bit longer if the Fed disappoints at the next meeting. Ian Lyngen at CRT Capital said the market is refining Fed policy expectations and
READ MORE... →Salient to Investors: The IMF lowered its US growth forecast for 2014 to 2.7 percent, maintained 2014 at 1.9 percent, and said the Fed will maintain QE until at least the end of 2013. Bryan Novak at Astor Asset Mgmt said interest rates need to rise, but with growth is
READ MORE... →Salient to Investors: Second-lien loan issuance has climbed to $17.1 billion in 2013, versus $18.6 billion in all of 2012 and on pace to beat the record $28.7 billion issued in 2007. Second-lien loans have fallen 0.3 percent since Bernanke said the Fed could pare QE, while junk bonds have
READ MORE... →Salient to Investors: Bill Gross at Pimco cut his local-debt allocation in the Total Return Fund by 1 percent to 4 percent in May, the lowest since July, and reduced Treasuries to 37 percent of the fund’s assets in May, but says the Fed will not raise interest rates for years, making
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