Salient to Investors: The S&P Supercomposite Machinery Index has risen 9.4 percent since July 17 versus a loss of 0.8 percent in the S&P 500 Index. Robert McCarthy at Robert W. Baird said the rise in machinery stocks follows 5 months of underperformance by near 20 percent, and sees meaningful upside potential on signs
READ MORE... →Salient to Investors: Jonathan Gray at Blackstone said: Investors have less than 2 years to buy foreclosures before competition and rising prices shrink the pool of cheap assets. The opportunity for funds to buy homes at discounts could last less than 2 or 3 years and the recovery in house prices could surprise people. The
READ MORE... →Salient to Investors: Stronger housing demand and hiring in the US and accelerating factory output and retail sales in China is providing international growth as Europe and Japan stagnate. Jim O’Neill at Goldman Sachs Asset Mgmt said improving China and the US is extremely good news. Tim Drayson at Legal & General Investment
READ MORE... →Salient to Investors: Justin Smirk at Westpac Banking focuses primarily on economic cycles, central banks and financial markets to make commodity predictions. He says: Industrial metals will rally through June 2013 as the economy strengthens in China. China’s economy is at a turning point both for policy and inventories, said We are at the worst
READ MORE... →Salient to Investors: BlackRock’s junk bond ETF reported an outflow of 2.4 million shares yesterday, the biggest daily withdrawal in its five-year history. The five largest junk-bond ETFs have lost $1.97 billion of assets since Sept. 20 as investors sour on a four-year rally in junk debt. Read the full article at
READ MORE... →Salient to Investors: Raymond Key at Deutsche Bank said gold will rise to a record above $2,000 an ounce in 2013 as central banks continue to print money, but don’t expect too much as the rally is maturing. Jeremy East at Standard Chartered said gold will be the best performing metal, driven by the ETF.
READ MORE... →Salient to Investors: Pew Research Center and Washington Post survey said 51 percent of Americans expect the US to go over the fiscal cliff, 38 percent expect a deal. 53 percent would blame Republicans for going over the cliff versus 29 percent who would blame Obama, 10 percent who would blame both sides. Read the full article
READ MORE... →Salient to Investors: Fed Vice Chairman Janet Yellen backed a proposal to link the Fed’s zero interest-rate policy to progress toward meeting its goals for inflation and employment rather than to a calendar date. Read the full article at http://www.bloomberg.com/news/2012-11-13/yellen-says-fed-should-tie-rate-outlook-to-economic-goals-1-.html
READ MORE... →Salient to Investors: The Archduke Joseph Diamond sold for $282,545 per carat, a record for a colorless stone. Geoffrey Munn at Wartski said the best diamonds have become extraordinarily valuable – there’s a scramble to buy jewels as a hedge. Munn said colored diamonds, which have set the highest auction prices, are rarer and more
READ MORE... →Salient to Investors: Real Capital Analytics said foreigners bought more UK properties worth over $9.5 million than residents for the first time in a decade, and bought 13.5 billion pounds of UK property through Oct. 12, versus 9.3 billion pounds of domestic purchases. Portfolio investments, including equities and debt, showed a 37.6 billion- pound net inflow
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