Salient to Investors: The 90-day correlation between changes in the euro and a Citigroup index of bond and swaps risk has turned positive for the first time since November 2008, indicating the euro is gaining favor as investors’ perceptions of turmoil in financial markets rises. Hedge funds et al are
READ MORE... →Salient to Investors: Investors pulled $2.2 billion from Thailand, Indonesia and the Philippines in August, versus inflows of $6.8 billion in 2012. Wellian Wiranto at Barclays said Singapore is a barometer for Southeast Asia; choppiness elsewhere cause ripples in Singapore. Khiem Do at Baring Asset Mgmt said Singapore’s stock market benefited from loose
READ MORE... →Salient to Investors: Only 3 emerging-market stock pickers avoided losing money in half1 by making prescient currency bets and buying companies insulated from economic swings and government interference. They recommend Philippine retailers, Chinese Internet companies and Indian drugmakers. Lewis Kaufman Thornburg Developing World Fund said there are many going wrong. Kaufman is overweight
READ MORE... →Salient to Investors: Adrian Mowat at JPMorgan said emerging-market stocks may enter a significant correction because fundamentals and technicals are weakening – investors should use options that protect against stock losses and sell equities that are most sensitive to market swings. Mowat sees no near-term changes to these conditions and expects emerging markets to
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