Salient to Investors: The boost to household wealth from rising home values and stock prices is allowing Americans to weather higher payroll taxes and sustain purchases, the biggest part of the economy. Millan Mulraine at TD Securities USA said the economic outlook is still favorable with fairly robust growth driven
READ MORE... →Salient to Investors: Larry Milstein at R.W. Pressprich said the market will overreact to the economic data over the next couple of months. The median economist expects the 10-year yield to end the year at 2.20 percent. David Coard at Williams Capital said we are in a bear market for Treasuries, but
READ MORE... →Salient to Investors: Jason Stewart, an analyst at Compass Point Research & Trading Interest rates moving higher and Fed talk about tapering QE much earlier than the market thought have sent mortgage REITs lower. Michael Widner at Keefe, Bruyette & Woods said the bond markets have over-reacted to Fed comments,
READ MORE... →Salient to Investors: Boston Consulting Group said: Asia-Pacific centers such as Singapore and Hong Kong are expected to receive most of the newly created wealth in the region that finds its way offshore. Hong Kong has the greatest concentration of billionaires followed by Switzerland. Asian wealth outside Japan will surpass North America
READ MORE... →Salient to Investors: David Stockman said: The baby boom generation has unfairly benefited from bubble-finance, a 30-year explosion of debt which created temporary but unsustainable economic prosperity, and a financialization of the system through lower and lower interest rates that has massively rewarded speculation but not real investments. $60 trillion
READ MORE... →Salient to Investors: New York City’s retirement system is the only one of the 11 biggest US public-worker pensions that refuses to manage any assets internally. The typical fees for hedge funds and private-equity and real-estate firms is 2 percent of assets plus 20 percent of profits. Last year, three city pension funds
READ MORE... →Salient to Investors: Nationwide Building Society said UK house prices increased rose 1.1 percent from a year earlier, the most since November 2011. Robert Gardner at Nationwide said housing is gradually gaining momentum and the economy and credit policy provide reasons for optimism in the quarters ahead. Read the full article at http://www.bloomberg.com/news/2013-05-30/u-k-home-prices-rise-most-in-18-months-nationwide-says.html
READ MORE... →Salient to Investors: MetLife cut its adviser force by a third, eliminating 2,500 jobs as the company scales back variable annuity sales and turns to other nations for growth. MetLife has 5,000 advisers who sell insurance and investment products, down from 7,500 in February of 2012. Danny Sarch at Leitner
READ MORE... →Salient to Investors: Monaco’s sudden, substantial and remarkably efficient spree has grabbed the attention of the soccer world. Monaco and its tax-free status have attracted big-name players in the past. While the economic downturn is hitting clubs hard, and a new 75% tax rate for top earners is about to
READ MORE... →Salient to Investors: within minutes either online William D. Cohan writes: With the expected appointment of Jason Furman as the head of the Council of Economic Advisers, Robert Rubin has completed the remarkable feat of placing 5 of his acolytes in key positions of power in the Obama administration. The
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