Salient to Investors: Germany’s council of economic advisers said: The German economy will expand 0.8 percent in 2013, the same as this year, as the euro region’s sovereign debt crisis saps demand for German exports. The ECB’s bond-purchasing plan is a last resort at best and should be ended as quickly as
READ MORE... →Salient to Investors: Fidelity Investments said average balances in employer-sponsored 401(k)accounts rose to $75,900 in Q3, the highest level since it began tracking values in 2000. ICI said americans held $3.3 trillion in 401(k) plans as of June 30. Read the full article at http://www.bloomberg.com/news/2012-11-08/fidelity-says-401-k-balances-reached-highest-level.html
READ MORE... →Salient to Investors: Peter Orszag at Citigroup said efforts to rein in federal deficit spending should be delayed until the US is better positioned to handle a contraction in government spending. Orszag said we need another round of infrastructure spending and tax cuts coupled with deficit reduction – an agreement on the fiscal
READ MORE... →Salient to Investors: Ezra Klein writes: Changing Washington in 2013 won’t be because of Obama but because a critical mass of senators decide enough is enough. The presidency isn’t the part of Washington that’s broken, it’s Congress enabled by the filibuster. There were more filibusters between 2009 and 2010 than in the
READ MORE... →Salient to Investors: Prices for single-family homes rose in 120 of 149 metropolitan areas in Q3 versus 110 areas in Q2. CoreLogic said US home prices rose 5 percent in September from a year ago, the biggest 12-month increase since July 2006. Paul Diggle at Capital Economics said tight supply will mean that house
READ MORE... →Salient to Investors: Curtis Arledge at Bank of New York Mellon said the appointment of somebody like Erskine Bowles to be Treasury Secretary will show Obama cares about the deficit and is serious about cutting it. The Center for Responsive Politics said Goldman Sachs, Bank of America, Morgan Stanley, JPMorgan Chase and Credit
READ MORE... →Salient to Investors: Democratic gains in the Senate will make it more likely to focus on “advise and consent” than “obstruct and destroy.” Sanctions continue to erode the Iranian economy and incite public dissatisfaction with the Islamic regime. The rial has slumped as much as 40 percent against the dollar since
READ MORE... →Salient to Investors: Mohamed El-Erian at Pimco said: Municipal debt is more attractive after the re-election of Obama. Investors should be careful of the long-end of the yield curve. TIPs are attractive. Bernanke is likely relieved as he knows he has more scope to continue with his unusual activism. The Fed will continue
READ MORE... →Salient to Investors: Chris Weafer at Sberbank Investment Research said people are looking to the tough schedule ahead for the US coupled with uncertainty surrounding Greece and the euro zone. Michael Ganske at Commerzbank said a clear-cut win for Obama is good news as the political agenda of Romney had question marks. Arjuna
READ MORE... →Salient to Investors: Ross Teverson at Standard Life Investments said we are in a good place for emerging markets – short-term emerging market equities will be dependent on developed markets, but the structural outlook is very compelling. Teverson said he doesn’t need to own a Chinese bank or a Brazilian bank just
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