Salient to Investors: Richard Titherington at JP Morgan Asset Mgmt said: Everyone assumes the US debt default will be averted, but it illustrates that these are uncertain times. Emerging markets are cheap for a reason because in the last 12-24 months they disappointed and there were better returns from the US
READ MORE... →Salient to Investors: The ISM non-manufacturing index dropped to a 3-month low in September, below the lowest forecast in a Bloomberg survey of economists. Anthony Nieves at ISM said growth is continuing and manufacturing may very well pull services along. Lindsey Piegza at Sterne Agee & Lynch said underlying momentum
READ MORE... →Salient to Investors: Christine Lagarde at the IMF said failure to raise the US debt ceiling is a far worse threat to the global economy than the shutdown. Lagarde said the global economic outlook is subdued, but the US and eurozone are picking up steam, and Japan is improving, though
READ MORE... →Salient to Investors: Vincent Reinhart at Morgan Stanley said: The US economy is on the verge of taking off even as the federal government shuts down. citing a pickup among leading indicators including the ISM factory index and homebuilder confidence. The economy’s resiliency in the face of broad federal spending
READ MORE... →Salient to Investors: Rick Rieder at BlackRock said the US won’t default on its debt nor suffer any credit-rating downgrade as occurred in 2011. Rieder said that the government understands that the effect of actually defaulting is so profound that they would never take us down that path. Read the
READ MORE... →Salient to Investors: Ethan Harris at Bank of America said: The decline in the jobless rate in August to 7.3 percent was due to Americans giving up on finding work and is forcing the Fed to struggle with how to minimize it as a policy benchmark without damaging their credibility.
READ MORE... →Salient to Investors: Nouriel Roubini at NYU said US banks are even-bigger-to-fail given consolidation. Read the full article at http://drnourielroubini.blogspot.com/2013/09/us-banks-are-even-bigger-to-fail.html Click here to receive free and immediate email alerts of the latest forecasts.
READ MORE... →Salient to Investors: William C. Dudley at FRB of New York said: We need to see continued improvement in the labor market and other good economic news before tapering. The FOMC are committed to not allowing inflation to rise above its 2 percent target by any significant margin because we
READ MORE... →Salient to Investors: Justin Wolfers writes: The risk of deflation is greater than the risk of explosive inflation. The Bureau of Economic Analysis revised its estimates for the personal consumption expenditures price index – the index the Fed targets aiming for inflation of 2 percent – to 0.1 percent negative
READ MORE... →Salient to Investors: Nouriel Roubini at NYU writes: The rout in the emerging market asset classes is past midway but more is ahead as the recovering West points to Fed tapering. Many stages in the shift in the US and global monetary and financial conditions are to come within the
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