Salient to Investors: Zhu Haibin at JPMorgan Chase said the data support the view that the economic rebound will be mild this quarter, and the current relatively accommodative monetary policy is unlikely to be loosened further. Dariusz Kowalczyk at Credit Agricole CIB said the year-over-year increase in aggregate financing suggests enough funds to ensure implementation of stimulus
READ MORE... →Salient to Investors: The Mexican peso has gone from the world’s strongest major currency to the weakest amid growing investor concern US demand will diminish. X-Trade Brokers Dom Maklerski expects another 3.9 percent depreciation by September and Bank of Nova Scotia recommends selling the peso. Futures traders are cutting bullish bets at
READ MORE... →Salient to Investors: The IEA said: The US will overtake Saudi Arabia as the world’s leading oil producer by about 2017 and will become a net oil exporter by 2030, and become all but self-sufficient in meeting its energy needs in about two decades. Global energy demand will grow between 35 and 46
READ MORE... →Salient to Investors: European companies most dependent on revenue from Spain, Italy, Greece and Portugal are rising in the stock market at the fastest pace in five years, providing chances for short sellers after two earlier rallies fizzled. Bears cite Spanish unemployment surging to a record, austerity measures pushing Italy into
READ MORE... →Salient to Investors: The IEA says natural gas will overtake oil as the most-used fuel in the US by 2030. Unconventional gas, extracted from shale and coal beds etc, will account for almost half of the increase in global output of the fuel by 2035. US production will rise 23 percent
READ MORE... →Salient to Investors: Money managers said fears that the US economy will slow as Obama and Congress fail to avert the fiscal cliff are overblown. Volatility across markets has declined, signaling investors are less worried about the economic outlook. Bettina Mueller at Deutsche Bank is astonished the market is turning so quickly, and expects
READ MORE... →Salient to Investors: Brazilian equities saw the biggest outflows in the past two months since Lehman’s collapse in 2008. EPFR Global said emerging-market equity funds attracted $10 billion during the same period, while Mexican stock funds had inflows of $179 million. Brazil’s domestic stock funds had inflows of $2.5 billion so far in 2012 versus
READ MORE... →Salient to Investors: Gilles Sitbon at Sycomore Asset Mgmt said people are waiting for one thing that could make the market go down – if nothing happens, then you can get a grind higher. Money managers said fears the economy will slow as Obama and Congress fail to avoid the fiscal cliff next
READ MORE... →Salient to Investors: Two states voting to legalize recreational use of marijuana marks the beginning of the end of the war on drugs – which has cost $1 trillion over the past four decades. The OECD says the US has over 3 times as many prisoners per capita as it did in 1980, and 10 times as many as
READ MORE... →Salient to Investors: Alice Rivlin at Brookings said the lesson of Europe is, don’t wait until you’re in a crisis to act and austerity is not a good prescription for weak economies. Rivlin said the US has the luxury the Europeans don’t, no pressure in the financial markets. Mohamed El-Erian at Pimco said the fiscal cliff would
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