Salient to Investors: Eugen Weinberg at Commerzbank predicts Brent crude will rebound toward $110 a barrel this month, and says the oil markets prefer Obama. Morgan Stanley said Brent will remain in a range of $105 to $110 as higher refinery runs offsets global economic risks. Ken Hasegawa at Newedge Group said we have plenty of crude worldwide,
READ MORE... →Salient to Investors: Gold traders are the most bullish in 10 weeks. Holdings in gold-backed exchange-traded products gained the past three months to a record, the best run since August 2011. Options traders are bullish. Gold is heading for a 12th straight annual gain, the longest winning streak in at least
READ MORE... →Salient to Investors: The global economy grew at the slowest pace since the 2009 recession. China reported the seventh straight quarter of slowing growth. Services and manufacturing in the 17-nation euro area last month contracted more than economists forecast. John Stephenson at First Asset Investment Mgmt said Europe is a complete
READ MORE... →Salient to Investors: China’s manufacturing expanded for the first time since July, signaling that the slowdown is easing and curbing the need for additional stimulus. Alexandra Knight at National Australia Bank said investors probably were a bit too optimistic to central bank announcements for further stimulus we’re starting to see an unwinding
READ MORE... →Salient to Investors: Gary Shilling at A. Gary Shilling & Co writes: Investors’ zeal for yield has: Depressed yields and spreads of below-investment-grade debt versus Treasuries so much that it now takes real skill to default. The global recession will hype defaults even though many low-rated companies have a cushion of safety from
READ MORE... →Salient to Investors: Rising supply from Brazil potentially hurts demand for US beans. Rabobank Intl said Brazil will displace the US as the largest soybean grower this year and may extend that lead as planting is expanded to meet increased demand from China, the biggest buyer. Jasper van Schaik at Rabobank said Brazil’s share of China’s imports
READ MORE... →Salient to Investors: Copper futures ended the longest slump in 14 years, on prospects for increased Chinese demand. Wang Zhongkui at Beijing Antaike Information Development said total Chinese demand may gain an average 6 percent a year from 2011 to 2015. Tobias Merath at Credit Suisse said there is a supply deficit, and Chinese
READ MORE... →Salient to Investors: Europe is missing out on the natural gas boom in the US and Asia, and instead burning coal imported from America. The IEA predicts global gas consumption to rise 19 percent by 2017 from 2010 on demand surges in Asia and the US – Europe will drop 1.6 percent. In Europe,
READ MORE... →Salient to Investors: IMF growth projections have been revised downward almost everywhere, especially in Europe and the big emerging markets like China. The IMF projects the US to the strongest of the rich economies over the next four years – 3 percent versus 1.2 percent in Germany and France and 2.3 percent in Canada. The
READ MORE... →Salient to Investors: Speculators lowered bullish bets on commodities for the third straight week, the longest streak since April. Copper holdings fell the most in seven weeks, and sugar wagers dropped to a one-month low. Bullish bets on gold slumped the most in three months. Donald Selkin at National Securities Corp said
READ MORE... →