Salient to Investors: Joshua Shapiro at Maria Fiorini Ramirez the US economy will grow 1.5 percent in 2013. monetary policy is having a limited near-term impact on growth the $1 trillion U.S. fiscal deficit is an important drag on future expansion. adjustments that affect the economy are all very long-term and are
READ MORE... →Salient to Investors: Andrea Guzzi at IST Investmentstiftung fuer Personalvorsorge said the global economy is recovering and healing, thanks to the US and the emerging markets – more people are becoming wealthy, less and less are poor. Guzzi said many countries have oversized banking sectors. Gala Prada at Fiatc Mutua de Seguros y Reaseguros expects
READ MORE... →Salient to Investors: The OECD said: Failure to prevent the fiscal cliff would increase the risk of a global recession. The greatest threats to the world economy lie in the euro area, whose debt crisis urgently need fixing. Reducing the large federal budget deficit is necessary to restore fiscal sustainability, but should be done gradually
READ MORE... →Salient to Investors: Hedge funds et al increased combined net-long positions for the first time in 7 weeks. James Paulsen at Wells Capital Mgmt sees many reasons why we are turning the corner, and says growth in the US and China supports being in commodities. Societe Generale said Chinese manufacturers are seeing the light at the
READ MORE... →Salient to Investors: Goldman Sachs turned down roles in offerings by banks in Spain and Italy in 2012, the only top US securities firm to avoid the fundraisings by southern European lenders. Last month, Gary Cohn at Goldman saw only a small probability that the euro area will stick together, and Goldman equity strategists warned investors
READ MORE... →Salient to Investors: Julian Callow at Barclays Capital said Europe won’t this time be able to bank on the Chinese recovery to lift its economy out of the quagmire because China is moving to consumption, away from investment, traditionally where Europe’s exporters would have benefited. Chris Williamson at Markit said today’s report suggests the downturn
READ MORE... →Salient to Investors: Pawel Swieboda at the Demos Europa Center for European Strategy writes: Prospects for survival of the euro area are looking up – logic dictates there will emerge a banking union, a new federal budget, and a joint commissioner to reconcile national budgets. The UK has started disassociating itself from the rest of
READ MORE... →Salient to Investors: Jason Rogan at Guggenheim Partners said we are being driven by Europe, where people are showing initiative. Tom Tucci at CIBC World Markets said it’s a short-lived sell-off because of austerity – they will continue to have weak economic growth. Read the full article at http://www.bloomberg.com/news/2012-11-21/treasuries-fluctuate-as-jobless-claims-decline-match-forecast.html
READ MORE... →Salient to Investors: International net purchases of long-term equities, notes and bonds were $3.3 billion during September versus net purchases of $90.3 billion in August as confidence grew that Europe was resolving its debt crisis and investors sold Treasuries following the Fed’s QE3 announcement. Read the full article at http://www.bloomberg.com/news/2012-11-16/international-buying-of-u-s-assets-plunges-on-europe-optimism.html
READ MORE... →Salient to Investors: The median economist expects: Britain to fall 0.1 percent in Q4 and grow 0.2 percent in Q1 2013; and the UK economy to fall 0.1 percent in 2012 and rise 1.1 percent in 2013. Germany to fall 0.1 percent in Q4 and rise 0.2 percent; and rise 0.3 percent in both
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