Salient to Investors: Asian state-owned oil companies are making inroads in the contest for East Africa’s energy reserves. Fields off Mozambique are estimated to hold enough gas to meet global demand for 2 years. Brett Olsher at Goldman Sachs said state producers have a national interest initiative to secure significant
READ MORE... →Salient to Investors: Bank of Canada Governor Mark Carney said economic slack will persist for more than two years and monetary stimulus will continue for a period of time. Derek Holt at Bank of Nova Scotia said the shine has started to come off the Canadian economy, and policy makers are signaling aggressively they
READ MORE... →Salient to Investors: Arne Rasmussen at Danske Bank said the outlook for the UK economy and the pound are bad and today’s jobs data is disappointing. Rasmussen says investors should not underestimate the possibility the BOE will act aggressively to support growth, and expects the pound to fall much further. Mike Amey
READ MORE... →Salient to Investors: The IMF said: Budget deficits in advanced economies will narrow at a faster pace in 2013 than in 2012 even as countries including the US and Japan lack clear plans to reduce their debt. Fiscal shortfalls will shrink to 4.7 percent of GDP in advanced nations in 2013, the narrowest
READ MORE... →Salient to Investors: The festival season in India, the world’s biggest gold consumer, runs from August to October and the wedding season runs from November to December and from late March through early May. Gaurav Mehta at Ambit said the fall in gold should alleviate to a significant extent one of
READ MORE... →Salient to Investors: Builders are rushing to satisfy growing demand for rental units. Work on multi-family homes, such as apartment buildings, jumped 31 percent to an annual rate of 417,000, the most since January 2006. Aneta Markowska at Societe Generale said demand from homebuyers or renters does not matter because it’s roofs over peoples’ heads.
READ MORE... →Salient to Investors: The IMF says: The global economy will expand 3.3 percent in 2013 versus its 3.5 percent forecast in January, and 4 percent in 2014. The euro area will contract 0.3 percent in 2013 versus its forecast of a 0.2 percent retreat in January. Expect a 3-speed recovery led by emerging
READ MORE... →Salient to Investors: 4 of the biggest stakeholders in untapped deposits known as the Utica Shale in Ohio have put up all or part of their acreage for sale, as prices fall by a third in some cases. The flip-flop underscores the difficulties faced by even experienced drillers around the world
READ MORE... →Salient to Investors: The fall in the price of gold today was the worst one-day drop in 30 years. Miguel Perez-Santalla at BullionVault said there was one big seller at the COMEX opening on Friday, followed by a seller of 53,000 gold futures contracts on Sunday – unusual in that sellers
READ MORE... →Salient to Investors: Calpers is 26 percent short of meeting its long-term commitments. The state and cities contributed $7.8 billion in the last fiscal year, almost 4 times more than a decade earlier. California taxpayers may see their municipal pension contributions rise as much as 50 percent under a plan
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