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When the Federal Reserve launched its unprecedented program of quantitative easing in early 2009, it was difficult to predict how various asset classes would react. Now, as the Fed considers a second round of asset purchases, the first program has left a blueprint of sorts behind that could be useful in predicting how markets might […]
As of this morning, not only have US equities (as measured by the MSCI)outpaced their global counterparts, but on a year-to-date basis it’s the only index still showing gains, albeit somewhat modest. Interestingly, as of this week the spread between the MSCI US and MSCI World index reached its highest spread of the year, mostly due to […]
Europe’s rapidly escalating out-of-control debt crisis has brought about a rare occurrence, solidarity amongst its members; an elusive attribute in the European experiment. Eurozone members, who have worked tirelessly over the weekend, appear to have agreed on creating a $645bn loan package to help defend its currency and stymie fears of Greek contagion to other […]
The main port which has been shut down by the earthquake is in Valparaíso just west of Santiago. The Codelco copper mine impacted is 50kms north of Santiago in Andina, and produces an estimated 600K tons per year. Codelco’s other mines in northern Chile are reported to be operating normally. Anglo American Plc reported yesterday […]
Here is an updated table containing my global macro trading strategies for retail investors. **For the details behind my global macro trading hypothesis, please see my past article on this blog and at RealMoney.
Cantor Fitzgerald raised the price target for Diana Shipping (DSX) to $18 from $16 based on higher rechartering assumptions. Cantors presently holds a ‘Buy’ rating on DSX. DSX is one of the few shippers within the dry bulk space on which I hold a relatively constructive view. Compared to other shippers the company has a […]
Today I wanted to quickly highlight the performance of my equity based trading strategies around my global macro economic investment thesis. Emerging markets: I continue to believe that emerging-market growth and equity performance — especially in countries with a strong consumer base — will continue to outpace developed nations in 2010. Therefore, you should still […]
Here is another article by Andy Xie–always an interesting read–former Morgan Stanley economist, who predicted the credit crisis well before it came to fruition. In this article Andy highlights how money supply growth is supporting a boom in asset prices, which in turn is bolstering the economy. He goes on to compare central banks supplying […]