Salient to Investors: Marc Chandler at Brown Brothers Harriman said G-20 basically said Japan can continue to reflate their economy, so it will continue to pursue aggressive fiscal easing and monetary easing, and just not talk about the currency so much. S&P retained its negative outlook on Japan’s credit rating, pending policy
READ MORE... →Salient to Investors: Previous yen declines in the 1990s and early 2000s failed to pull Japan clear of 15 years of deflation. The IMF estimates that from From 1994 to 2003, Japan’s economy grew an average of 0.9 percent, a third of the pace of all advanced nations, and despite back-to-back
READ MORE... →Salient to Investors: The British pound advanced for the first time in 3 years against the dollar in 2012 and advance for the fourth year against the euro. The median analyst expects the pound to end 2013 at 79 pence per euro and at $1.60, and the 10-yr gilt yield to rise to 2.38
READ MORE... →Salient to Investors: Investors said the S&P lowered outlook for the UK’s credit-rating will have little impact. Stuart Thomson at Ignis Asset Mgmt doesn’t see the downgrade as significant for gilts – a move from AAA to AA+ has lost its impact, if it ever had any, and the impact on default is virtually
READ MORE... →Salient to Investors: Real Capital Analytics said foreigners bought more UK properties worth over $9.5 million than residents for the first time in a decade, and bought 13.5 billion pounds of UK property through Oct. 12, versus 9.3 billion pounds of domestic purchases. Portfolio investments, including equities and debt, showed a 37.6 billion- pound net inflow
READ MORE... →Predictions: Bank of Tokyo-Mitsubishi UFJ Lee Hardman expects the Bank of England will have to ease more, which will weaken the pound to under $1.50 in the next couple of months. Economists expect data next week to show the U.K. economy is slowing. Read the full article at http://www.bloomberg.com/news/2012-06-09/pound-strengthens-as-boe-keeps-stimulus-on-hold-gilts-decline.html
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