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... →Salient to Investors: The Mexican peso has gone from the world’s strongest major currency to the weakest amid growing investor concern US demand will diminish. X-Trade Brokers Dom Maklerski expects another 3.9 percent depreciation by September and Bank of Nova Scotia recommends selling the peso. Futures traders are cutting bullish bets at
READ MORE... →Salient to Investors: The US trade deficit narrowed in September, the smallest since December 2010 and lower than any estimate in surveyed economists – exports were broad-based. Growing demand from emerging markets in South and Central America may be helping to overcome a slowdown in Europe and China. Imports climbed as US consumers
READ MORE... →Salient to Investors: Noriaki Murao at Bank of Tokyo-Mitsubishi UFJ said the biggest focus as we head into year-end will be the fiscal cliff – investors are buying safe currencies such as the dollar and yen. 62 of 63 economists expect the ECB to keep its benchmark interest rate unchanged at 0.75 percent. Ray
READ MORE... →Salient to Investors: A deepening credit crunch for European companies adds to the risk of another recession. Small and medium-sized companies that generate as much as 70 percent of the economy are starved of credit. The median of 48 analyst estimates is for a drop of 2.3 percent against the dollar by
READ MORE... →Salient to Investors: The biggest Chinese ETF in the US climbed to a six-month high on expanding factory output. Chinese manufacturing expanded for the first time in three months in October. Audrey Kaplan at Federated Global Investment Mgmt said confidence in Chinese equities is picking up and it looks like the beginning of a
READ MORE... →Salient to Investors: Asian currencies strengthened for a fifth month on signs of a pickup in China, where industrial output, retail sales and fixed-asset investment gathered pace in September. Tsutomu Soma at Rakuten Securities said funds are flowing into Asia. EPFR Global said emerging-market bond funds attracted $44.2 billion this year through Oct. 24 versus $15.9
READ MORE... →Salient to Investors: Mohamed El-Erian at Pimco said: Superstorm Sandy won’t reduce GDP as there is likely to be catch-up activity. There is a 60 – 70 percent probability of a mini bargain over the fiscal cliff – with contraction of 1.5 percent of GDP, which is manageable.” There is a 60 – 70 percent probability that Greece will quit the
READ MORE... →Salient to Investors: Albert Sung at Katchum Macro-Economic Blog writes: The Fed can print money but can’t control where it goes. Money is now flowing into Asia – Thailand, Indonesia, Hong Kong, Shanghai, Australia are at new highs, while the Hong Kong and Shanghai real estate markets are making new highs. Asian real estate developers in
READ MORE... →Salient to Investors: Hans Redeker at Morgan Stanley said the dollar will rise to 84 yen after exceeding it’s 200-day moving average – the yen is the weakest of the G-10 currencies. Read the full article at http://www.bloomberg.com/news/2012-10-22/dollar-moving-average-signals-gain-to-84-yen-technical-analysis.html
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