Salient to Investors: Citigroup, Pacific Crest Securities, Mizuho Securities USA, BMO Capital Markets and Canaccord Genuity have cut price targets for Apple since Dec. 16 over weak iPhone sales and concern for market saturation and the need for new breakthrough products to fend off rivals Google and Samsung. Michael Obuchowski at North Shore Asset Mgmt said the latest iPhone and
READ MORE... →Salient to Investors: Brokers and dealers cut their inventory of US muni bonds in Q3 to the least since Q1 2004. Investor demand for munis has faltered. Investors are looking to unload more than $1 billion of the debt, the most in two years. David Manges at BNY Mellon Capital Market said investors are
READ MORE... →Salient to Investors: EPFR Global said the increase in inflows into commodity funds in 2012 was 92 percent higher than the increase in 2011. The S&P GSCI, of which energy comprises 70 percent, fell 0.9 percent in 2012, the MSCI All-Country World Index rose 13 percent, the Dollar Index fell 0.9 percent, Treasuries returned 2.3 percent. Barclays
READ MORE... →Salient to Investors: US oil production expanded in 2012 by the most since the first commercial well in 1859, and to the highest level in 15 years. Net petroleum imports now account for 41 percent of demand versus 60 percent 7 years ago. The IEA says the US will become the top producer in 8 years. US
READ MORE... →Salient to Investors: The National Association for Business Economics expects: The US economy to grow 2.1 percent in 2013 – 1.6 percent in Q4, 1.8 percent in Q1, 2.4 percent in Q2, 2.6 percent in Q3, and 3 percent in Q4. Unemployment will average 7.7 percent in 2013. Housing to again be
READ MORE... →Salient to Investors: Rightmove said: London home sellers cut asking prices by the most for a December in five years due to an influx of supply and seasonal factors, but prices are up 6.8 percent from a year ago. Average prices in England and Wales fell by the most since January 2002 but
READ MORE... →Salient to Investors: Yields on sovereign securities moved in the opposite direction from what ratings suggested in 53 percent of the 32 upgrades, downgrades and changes in credit outlook in 2013, versus the longer-term average of 47 percent of over 300 changes since 1974. The IMF reported in January 2012 that prices
READ MORE... →Salient to Investors: John Stephenson at First Asset Investment Mgmt said the Fed basically admitted that they don’t have what it takes to deal with the fiscal cliff, and it dimmed the idea that unlimited money printing will help commodities. Saumil Parikh at Pimco said global growth will slow to near stall speed in 2013
READ MORE... →Salient to Investors: The average analyst expects capital spending by S&P 500 companies to drop 1.3 percent in 2013 after 3 years of growth. Bears say the last decline was at the end of 2008, just before stocks slumped to a 12-year low, and expect CEO pessimism to sap the rally. Bulls say
READ MORE... →Salient to Investors: Hedge funds and private-equity firms are buying delinquent home loans sold by the FHA, paying an average of 36 cents on the dollar and a low of 26 cents. The FHA doesn’t have the legal authority to use workout tactics like principal forgiveness, and is not allowed to rent homes back to
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