Salient to Investors: Grace Tam at JPMorgan Asset Mgmt said the big picture is much better than last year, and its positive for equities in the medium term because of easy global monetary policies. family members treated The MSCI Asia Pacific Index is at 14.9 times estimated earnings versus 13.8 for the S&P
READ MORE... →Salient to Investors: Junk bonds of companies in emerging markets are the most expensive in 7 years relative to the US, raising concerns the threat of asset bubbles is increasing. Emerging market businesses have been adding debt even as profit growth slows and borrowing costs stop tumbling. JPMorgan said funds investing in
READ MORE... →Salient to Investors: The midsize art galleries that helped transform western Chelsea into New York’s major art hub are being squeezed out of the neighborhood by booming real-estate development and rising rents. Stuart Siegel at CBRE said every developer in New York wants to be in West Chelsea, and landlords
READ MORE... →Salient to Investors: An erosion of traditional Confucian values in Japan means fewer elderly are being cared for at home by relatives. Japan has the world’s highest proportion of retirees, and the lack of long-term care facilities means seniors increasingly risk living alone in ill-equipped homes or suffering abuse in the
READ MORE... →Salient to Investors: Average daily price moves for the S&P 500 have seen the steepest decline since the 1930s – the last time the annual average was this low was 1995, when the S&P 500 rose 34 percent and doubled in the next four years. Going back to 1928 shows stocks gain
READ MORE... →Salient to Investors: OMB predicts yields on 10-yr Treasuries will rise to average 4.1 percent in 2015 and 4.9 percent in 2017 as the economy expands at a 4 percent rate in half2 of Obama’s term. The bond market indicates the yield will average below 3 percent two years from now,
READ MORE... →Salient to Investors: Kevin Divney at Beaconcrest Capital Mgmt said more deals create good sentiment because it means CEOs are looking further out, and that’s been the issue the past 4 years. 71 percent of the 399 S&P 500 companies so far reporting have beaten estimates, 67 percent have beaten sales estimates. Read
READ MORE... →Salient to Investors: Salman Niaz at Goldman Sachs Asset Mgmt said: Macau casino bonds will withstand any crackdown aimed at cleaning up the industry. Previous cooling and policy measures have generally been positive to the long-term health of the market, and the high free-cash flow generated by operators and limited leverage
READ MORE... →Salient to Investors: The Shanghai index is at 13.4 times reported earnings, the highest level since September 2011, and its 14-day relative strength index was at 69 yesterday, close to the Sell signal level above 70. Zhang Lei at Minsheng Securities cites speculation of more property tightening as home prices have not fallen. Xie
READ MORE... →Salient to Investors: Rightmove said UK home sellers raised their asking prices to the most for a February in 5 years as potential buyers increased, while half of purchasers are doing so for at least the third time versus only 22 percent of first time purchasers. Miles Shipside at Rightmove said it’s far
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