Salient to Investors: Cap Gemini and Royal Bank of Canada said in their millionaire report for 2012: North America reclaimed the most millionaires top spot. 3.73 million North Americans had at least $1 million in investable assets versus 3.68 million in Asia-Pacific. The combined wealth of the world’s millionaires rose 10 percent to
READ MORE... →Salient to Investors: The euro has strengthened 4.6 percent in 2013, the most among 10 developed-market currencies, indicating revealing how far Draghi is falling behind in the foreign-exchange wars. The gain shows investors are confident that Draghi et al are doing enough to hold the euro region together, but threatens the ability
READ MORE... →Salient to Investors: Currency strategists from Barclays to Deutsche Bank are advising to sell the yuan as China growth slows and inflows slow as China demands lenders curb foreign-currency loans on concern companies may have exaggerated shipments to facilitate carry trades. Igor Arsenin et al at Barclays said policy makers will
READ MORE... →Salient to Investors: New home prices in Beijing, Shanghai and Guangzhou posted the biggest gains in May since at least January 2011, and 69 of 70 cities tracked showed increases, the most since August 2011. Zhang Zhiwei at Nomura said China’s dilemma is that it is difficult to tighten the property
READ MORE... →Salient to Investors: Johan P. Mackenbach at Erasmus MC, University Medical Center Rotterdam writes: Even in high-income countries and Western Europe’s highly developed welfare states, people lower on the socioeconomic ladder have shorter and less healthy lives than those on higher rungs. Life expectancy at birth often varies by 5-10
READ MORE... →Salient to Investors: The cost of 3-month puts on the iShares FTSE China 25 Index Fund have risen to the highest since September 2012. Morgan Stanley has joined UBS and Barclays in lowering predictions for China’s economic growth. Derrick Irwin at Wells Fargo Advantage Emerging Markets Equity Fund said investors are nervous about
READ MORE... →Salient to Investors: Fareed Zakaria said: China does infrastructure better than anyone in the world – trains, roads, airports, subways built at amazing speed, on a grand scale and with great foresight. The HK Nicaragua Canal Development Investment Company, Ltd, will help finance a Nicaraguan canal at a total cost
READ MORE... →Salient to Investors: The IMF lowered its US growth forecast for 2014 to 2.7 percent, maintained 2014 at 1.9 percent, and said the Fed will maintain QE until at least the end of 2013. Bryan Novak at Astor Asset Mgmt said interest rates need to rise, but with growth is
READ MORE... →Salient to Investors: Jim Rogers said: When investing, don’t follow the crowd Most government numbers are made up. China has problems with housing and inflation as the US did in the 19th century when it was growing rapidly. Every country that grows rapidly has problems. The US had recessions and
READ MORE... →Salient to Investors: Nouriel Roubini writes: QE is not creating credit for the real economy, but instead boosting leverage and risk-taking in financial markets. Issuance of risky junk bonds under loose covenants and with excessively low interest rates is increasing, the stock market is reaching new highs, despite the growth slowdown,
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