Salient to Investors: Stronger housing demand and hiring in the US and accelerating factory output and retail sales in China is providing international growth as Europe and Japan stagnate. Jim O’Neill at Goldman Sachs Asset Mgmt said improving China and the US is extremely good news. Tim Drayson at Legal & General Investment
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... →Salient to Investors: European companies most dependent on revenue from Spain, Italy, Greece and Portugal are rising in the stock market at the fastest pace in five years, providing chances for short sellers after two earlier rallies fizzled. Bears cite Spanish unemployment surging to a record, austerity measures pushing Italy into
READ MORE... →Salient to Investors: Alice Rivlin at Brookings said the lesson of Europe is, don’t wait until you’re in a crisis to act and austerity is not a good prescription for weak economies. Rivlin said the US has the luxury the Europeans don’t, no pressure in the financial markets. Mohamed El-Erian at Pimco said the fiscal cliff would
READ MORE... →Salient to Investors: Jim O’Neill writes: Nothing has materially changed by the US election and the Chinese leadership handover. The positive surprise in Korean exports in October indicates a pick up in world trade. Japan reported its first seasonally-adjusted current account deficit following other generally grim economic news. It is
READ MORE... →Salient to Investors: The European Private Equity & Venture Capital Assn said European venture firms raised 50 percent more venture capital than in 2010. Lars Hinrichs at HackFwd said there are more angel investors than startups in London and Berlin – we have too much money in seed and late-stage investing.” Carlos Eduardo
READ MORE... →Salient to Investors: Arnaud Scarpaci at Agilis Gestion said earnings have been positive, and Europe is recovering – all is functioning in the micro-economy. 54 percent of Stoxx 600 companies so far reporting have exceeded analysts earnings projections. Matthieu Giuliani at Banque Palatine said catastrophe in Greece has been avoided, but the problem is no growth, so have
READ MORE... →Salient to Investors: Democratic gains in the Senate will make it more likely to focus on “advise and consent” than “obstruct and destroy.” Sanctions continue to erode the Iranian economy and incite public dissatisfaction with the Islamic regime. The rial has slumped as much as 40 percent against the dollar since
READ MORE... →Salient to Investors: German factory orders fell for a second straight month and by the most since September 2011. Thomas Harjes at Barclays said today’s data are a catastrophe – the huge problem in the rest of the euro area seems to be reaching Germany and its labor market. Harjes said the economic outlook is gloomy for
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
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