Salient to Investors: Aaron Kohli at BNP Paribas said it’s the calm before the storm for the Treasury market, so the bloodletting could continue a little bit longer if the Fed disappoints at the next meeting. Ian Lyngen at CRT Capital said the market is refining Fed policy expectations and
READ MORE... →Salient to Investors: The IMF lowered its US growth forecast for 2014 to 2.7 percent, maintained 2014 at 1.9 percent, and said the Fed will maintain QE until at least the end of 2013. Bryan Novak at Astor Asset Mgmt said interest rates need to rise, but with growth is
READ MORE... →Salient to Investors: Second-lien loan issuance has climbed to $17.1 billion in 2013, versus $18.6 billion in all of 2012 and on pace to beat the record $28.7 billion issued in 2007. Second-lien loans have fallen 0.3 percent since Bernanke said the Fed could pare QE, while junk bonds have
READ MORE... →Salient to Investors: David Kelly at JPMorgan Funds said the theme of whether the Fed will stop being easy and what that means for interest rates is not a significant negative for the stock market and the market may be overreacting. Bruce Bittles at RW Baird said it is disconcerting
READ MORE... →Salient to Investors: The South Carolina Association of Realtors say 2013 values in the Hilton Head area are up 11.1 percent from the first 5 months of 2012, sales are up 9.3 percent, while prices are down by a third from 2007. Increasing buyer confidence is spilling into seasonal communities from
READ MORE... →Salient to Investors: Trust in precious metals as a store of wealth is diminishing amid concern that growth is weakening. Bloomberg survey in December 2012 expected silver to gain 33 percent in 2013 either because , or accelerating growth would spur more industrial buying; but silver is on track for its
READ MORE... →Salient to Investors: Bill Gross at Pimco cut his local-debt allocation in the Total Return Fund by 1 percent to 4 percent in May, the lowest since July, and reduced Treasuries to 37 percent of the fund’s assets in May, but says the Fed will not raise interest rates for years, making
READ MORE... →Salient to Investors: Jim Rogers said: When investing, don’t follow the crowd Most government numbers are made up. China has problems with housing and inflation as the US did in the 19th century when it was growing rapidly. Every country that grows rapidly has problems. The US had recessions and
READ MORE... →Salient to Investors: Nouriel Roubini writes: QE is not creating credit for the real economy, but instead boosting leverage and risk-taking in financial markets. Issuance of risky junk bonds under loose covenants and with excessively low interest rates is increasing, the stock market is reaching new highs, despite the growth slowdown,
READ MORE... →Salient to Investors: Paul Kavanaugh at FuturePath Trading said the copper chart is bearish for the medium term, and new lows are likely – copper in New York is poised to reach the lowest price since mid-2010 in the next 2 months as its MACD gave a bearish sign. Read the full
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