Salient to Investors: Tony Crescenzi at Pimco said the payroll data will keep the Fed on the taper trail. Goldman Sachs said the FOMC will taper sooner than they had expected. Michael Feroli at JPMorgan Chase now expects tapering to begin at the September FOMC meeting. Lou Crandall at Wrightson ICAP said the jobs report
READ MORE... →Salient to Investors: Matthew Peron at Northern Trust said the strong jobs report is good for equities because it’s supportive for earnings growth, and we know this is not going to be a terrific earnings season. Peron said the focus will be on guidance and now is the time for the
READ MORE... →Salient to Investors: China’s net gold imports from Hong Kong increased 40 percent in May from a month earlier. Bruce Liu at ANZ Bank said demand was quite strong in May with people rushing to gold shops because they thought prices had hit bottom. Gold sales from Australia’s Perth Mint declined for a
READ MORE... →Salient to Investors: Hedge funds are the least bullish in 6 years and ETP holdings dropped to a 3-year low. The US Mint sold 19 percent fewer ounces of American Eagles in June than in May and 73 percent less than in April. Australia’s Perth Mint said coin and bar sales dropped for a
READ MORE... →Salient to Investors: William Pesek writes: Tadashi Yanai has become Japan’s richest man largely because of his success at expanding abroad. Japan Inc. has traditionally failed to excel at taking risks and speaking English when going global. Conservative forces still dominate Japan, Inc. Enough top executives have successfully challenged the
READ MORE... →Salient to Investors: Nomura says: China, Hong Kong and India are in a high-risk danger zone because their monetary policies have stayed too loose over the past 4 years. The average ratio of domestic private debt to GDP across Asia had risen to 167 percent in 2012 and most of
READ MORE... →Salient to Investors: Banks are offering jumbo mortgages – too big for government programs – at rates at or below taxpayer-backed loans, while the extra cost of 30-yr fixed jumbo loans averaged a 6-year low of 0.16 percent in June. Paul Miller at FBR Capital Markets said bigger loans are becoming relatively cheaper
READ MORE... →Salient to Investors: Morningstar says 10 percent of the TIPS market is owned by Pimco. Jeffrey Gundlach at DoubleLine says TIPS are a disaster and a trap because unless inflation rises, all you have is interest rate risk, just like every other Treasury – it is an asset class that is exposed
READ MORE... →Salient to Investors: Bureau of Labor Statistics data indicate that California is losing ground in the number of business establishments – 5.2 percent fewer at the end of 2012 than in the previous year or 73,000 fewer versus second-place Massachusetts which lost 5,200 businesses. Nebraska added businesses at 11.9 percent, the fastest rate.
READ MORE... →Salient to Investors: Jim Rogers says international investors prefer open, exciting and dynamics places. Malaysia has opened up and is one of the most attractive, with huge reserves, abundant natural resources. Read the full article at http://www.jimrogers.info/2013_07_01_archive.html Click here to receive free and immediate email alerts of the latest forecasts.
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