The Breakdown of the BRICs – Bloomberg Businessweek 07-12-13

Salient to Investors: In Q1 2013, BRIC bonds, currencies, and stocks fell together for the first time since 2006. Since 2003, the MSCI BRIC Index has returned 227 percent, but is down 17 percent in 2013 and trailing the S&P 500 by the most since 1998. The MSCI BRIC Index

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Global Bonds Dive for Second Month as Stocks Lose $2.7 Trillion – Bloomberg 06-30-13

Salient to Investors: Binky Chadha at Deutsche Bank said the market had been pricing in that the Fed would normalize rates much more slowly than it has done historically, and the shock has spilled over across all of the asset classes. The World Bank said the world economy will expand 2.2 percent

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Did Bernanke Signal Return of Risk-Off Market? – Bloomberg 06-27-13

Salient to Investors: A. Gary Shilling at A. Gary Shilling & Co. writes: Short stocks and commodities, go long the dollar and Treasuries – if stocks continue to decline, the safety of Treasuries and investment-grade bonds will outweigh concerns about the end of QE. World economies are growing slowly at

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Texas U. Sold $375 Million in Gold Bars; Exposure Steady – Bloomberg 04-25-13

Salient to Investors: Bruce Zimmerman at Utimco said that in the 3 months ending February 28, his fund reduced bullion holdings of $1.4 billion by $375 million, and bought $75 million in gold futures, $225 million in developed-market equities and $75 million in emerging-market equity futures. Zimmerman said the fund’s total exposure to gold has not

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Emerging-Market Returns Unhinge From Developed: Chart of the Day – Bloomberg 04-23-13

Salient to Investors: JPMorgan Chase said that from June 2010 through 2012, the positive correlation between developed and emerging- market equities daily performance was 89.6 percent, but in 2013 there is a negative correlation of 60.3 percent as emerging-market stocks slumped. Andres Garcia-Amaya at JPMorgan said emerging markets could continue to

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