Salient to Investors: Copper traders are the most bullish in a year versus the most bearish in four months a week ago. Hedge fund bets on a rally are near the highest in 14 months. Christin Tuxen at Danske Bank said the market has been way too pessimistic on China – China is will stabilize and avoid
READ MORE... →Salient to Investors: Copper traders are the most bearish since June 1 as growth slows from China to Europe. International Copper Study Group said supply will outpace demand in 2013, the first glut in four years, and the biggest in more than a decade. Goldman Sachs predict the surge in copper demand
READ MORE... →Salient to Investors: Gary Cohn at Goldman Sachs says: There is a small probability that the euro area will stick together, and it’s more likely that some countries will exit to pursue growth. The ECB program hasn’t addressed the lack of growth – Europe still needs a “Lehman moment”. Southern Europe has no
READ MORE... →Salient to Investors: Peter Hooper at Deutsche Bank said it’s clear the stock market is the most important transmission mechanism of monetary policy – the stock market will have to carry the load. Hooper says the Fed will stick with the bond-buying strategy through next year, and end up buying $800 billion of Treasuries
READ MORE... →Salient to Investors: James Paulsen at Wells Capital Mgmt said recovering manufacturing will significantly reduce recession fears, while fears regarding the euro zone have been diminishing in recent months. mutual loan Richard Sichel at Philadelphia Trust said people should focus on economic news – equities end up being the investment of choice. Barron’s reported
READ MORE... →Salient to Investors: Joseph Franco at Suffolk University said pay-to-play is an inevitable consequence of bankers seeking lucrative fees controlled by politicians – firms create incentive structures for their bankers that fuel this sort of conduct. David Trone at JMP Securities and others said the settlement had no effect on the bank’s share
READ MORE... →Salient to Investors: UBS said power producers will open six times more coal-burning plants than gas-fed units by 2015. Demand for emission permits will rise because coal-fired generators need twice as many credits as gas users under climate protection rules. Matthew Gray at Jefferies says the outlook for Certified Emission Reductions
READ MORE... →Salient to Investors: PayScale reports 2012 graduates from South Dakota School of Mines & Technology received a median salary of $56,700 versus $54,100 for graduates from Harvard. jobs4mining.com says shortages in mine engineering and project management are acute, driving tremendous salary inflation. New mineral deposits are getting harder to find, and companies are
READ MORE... →Salient to Investors: Bellwethers FedEx and Intel expect lower quarterly profits because of weakness in worldwide demand. Wall Street expects quarterly profits at large American companies to decline for the first time since 2009. Ethan Harris at Bank of America Merrill Lynch said a lot of the profit gain over the past years came from a
READ MORE... →Salient to Investors: The S&P GSCI spot gauge of 24 raw materials is on a seven week advance – the best streak since October 2010. Sijin Cheng at Barclays said sentiment is quickly shifting to a ‘risk-on’ mode. Jonathan Barratt of Barratt’s Bulletin said Middle East geopolitical concerns should add a $5 to
READ MORE... →