Salient to Investors: Tom Feeney at Mission Management & Trust Company writes: Global equity markets are responding first and foremost to central bank intervention, not traditional investment fundamentals. Clearly central bank stimulus has not worked so far – even a minority on the Fed argue it does not work –
READ MORE... →Salient to Investors: Matthew Smith at theinvestar.com writes: We have shifted toward an investor’s market rather than a stock picker’s market. The rise in the 10-year T-yield is not a concern since we are still very near all-time low rates, and 30 to 50-year interest rates do not mirror the recent
READ MORE... →Salient to Investors: Jeffrey Fischer writes: Bernanke has been strategically testing the markets to gauge investors’ reactions to tapering – not the first time the Fed has given investors lip-service, and won’t be the last. Economic Indicators have improved. The Fed is not concerned much with a decline in equity
READ MORE... →Salient to Investors: Sy Harding at Asset Mgmt Research Corporation writes: The four-year presidential cycle is a potential bad omen for the stock market in 2013 or 2014 or both – there is usually a market correction in the first 2 years of each presidential term, followed by recovery and
READ MORE... →Salient to Investors: Patrick J. O’Hare at Briefing.com writes: The stock market still has faith in the Fed as shown by the rebound in the face of higher interest rates, implying that the Fed will continue to help boost economic growth. The market’s obsession with monetary policy will continue. Expect Q2 GDP
READ MORE... →Salient to Investors: Matthew C. Klein writes: Glass-Steagall 2 would do nothing to protect us from the devastation we recently experienced. The belief that the 1933 Glass-Steagal Act made the financial system safe and promoted decades of prosperity and that the 2007 crisis would never have happened if G-S had
READ MORE... →Salient to Investors: James Bullard at FRB St. Louis said the Fed should not taper until inflation accelerates toward its 2 percent target, and if inflation were to fall further it would have to rethink its strategy. Bullard says positive indicators include improving real-estate markets, rallying equity markets, a subdued European sovereign debt
READ MORE... →Salient to Investors: Marc Chandler at Brown Brothers Harriman said there is one big story and that is, of course, Bernanke, and given that his comments rattled the market a couple of times now in a short period of time, many traders will be loath to take significant positions ahead of his address
READ MORE... →Salient to Investors: Carlos Perez-Santalla at Marex North America said Bernanke gave the impression that tapering is currently a distant dream LLC, while today’s data further cements the fact that the economy has not completely recovered. David Govett at Marex Spectron said gold sentiment will now be to the upside, and
READ MORE... →Salient to Investors: Jim O’Neill writes: Too much of the world’s trade and finance is conducted in dollars. The exorbitant privilege has lasted too long. It is time one or two of the emerging-market governments did something about the US’s ability to borrow in its own currency – an advantage the rest
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