Predictions: Geoff Kendrick at Nomura International says the generalized dollar buying is down to risk aversion, expects the euro to keep heading lower. Daisaku Ueno at Mitsubishi UFJ Morgan Stanley Securities said any slowing in global growth would lead to buying of the dollar because the euro is less attractive than the dollar due to their different economic situations and
READ MORE... →Salient to Investors: Brent’s 14-day relative strength index at 17.4 today – readings of 30 or less suggest prices have tumbled too quickly. The August Brent contract traded at a 33-cent discount to September, the fifth consecutive day that the front-month contract has been cheaper than the second month, which typically
READ MORE... →Salient to Investors: Isao Kubo at Nissay Asset Management said all the data yesterday points to a slowdown, and we can’t expect immediate stimulus measures. Kubo said Japanese stocks are resilient because of the yen, the biggest barometer for Japan’s corporate outlook. The Topix sells for 0.88 times book value. Tomoichiro Kubota at Matsui Securities said employment and housing
READ MORE... →Predictions: Ken Hasegawa at Newedge Group expects WTI will trade between $75 and $82 until the end of the month; until September, we have volatility from the Atlantic hurricane season. Fourteen of 27 analysts polled by Bloomberg expect oil to decline through June 29. Read the full article at http://www.bloomberg.com/news/print/2012-06-22/treasuries-remain-higher-on-stocks-as-gross-warns-of-risk-assets.html
READ MORE... →Salient to Investors: Moody’s Investors Service slashed credit ratings on 15 global banks yesterday. Hiromasa Nakamura at Mizuho Asset Management said even Germany can’t avoid a slowdown, showing the instability of Europe’s financial system is affecting the region’s economy. Nakamura said the weakening global economy is leading to risk aversion among investors, putting
READ MORE... →Salient to Investors: Standard & Poor’s GSCI Spot Index down 22 percent from 2012 highest close, entering a bear market. James Steel HSBC Securities (USA) said near-term momentum may take prices lower, but it would create a buying opportunity. Read the full article at http://www.bloomberg.com/news/2012-06-20/gold-set-to-rebound-on-expectation-fed-will-stimulate-economy.html
READ MORE... →Salient to Investors: Qu Hongbin at HSBC said policy easing has been insufficient to stabilize growth. Chinese home values fell in a record 54 of 70 cities in May. New Zealand grew at fastest pace in five years last quarter, almost three times the median estimate in a Bloomberg News poll. Predictions: Credit Suisse cut its 2012 growth estimate for
READ MORE... →Salient to Investors: George Elliott at Naftilia Asset Management said: Investing in Russia after its 1998 currency crisis, in Argentina in 1992 after it defaulted on its debt, or in the S&P 500 Index in March 2009 at its lowest point in 13 years were the best investment opportunities over the past 20 years.
READ MORE... →Salient to Investors: Economists expect sales of previously owned U.S. homes fell in May and reflect an uneven recovery. Existing-home sales reached a low of 3.39 million annual in July 2010 versus a peak of 7.25 million in September 2005. Foreclosure starts grew in May for the first time since January 2010. Michael Feder
READ MORE... →Salient to Investors: The purchase is valued in the hundreds of millions of dollars according to the application to the commission, and includes two resort hotels, two championship golf courses and club houses, more than 88,000 acres of land including a 600-acre residential development, a solar farm, parks and utilities. Lanai
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