FYI | May 10 2013
By Rudi Filapek-Vandyck, Editor FNArena
I joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently. Twitter allows me to follow news and commentary sources such as Dow Jones' Marketwatch, Bloomberg News and the Wall Street Journal. It assists me in keeping up with what is happening across the globe, while I am observing and analysing financial markets myself.
While I am on Twitter, reading a quote here and a news flash there, I offer my own succinct insights and commentary. Those amongst you who have already discovered the virtues of a Twitter account can add my Tweets to their daily news via @filapek.
For those who have no intention to join Twitter, but would like to stay up to date, below are my Tweets from the week past:
– UBS Global #Commodities specialists see a cyclical rally building in a structural bear market, supported by investors' fear missing out
– BA-ML strategists: "The risk of a melt-up in stocks is high and rising". Investors talking #QE in #China, intra-market breadth deteriorating
– Macquarie: highlight potential risk to #ironore prices should [#China] production roll over in June. Sees reluctance to close steel capacity
– Overnight: industrial #commodities all taking a day off. #Gold down. Brent up US13c to US$104.47. #China spot #ironore unchanged US$130.20
– UBS: For investors worried about near term correction, #REITs look to have best risk/return appeal amongst higher yielding defensive areas
– If recent weakness risk assets was correlated with weaker econ data, then this week's surge is all about pending recovery global momentum?
– HULK AMUSED BY PUNY HUMAN EXCITEMENT AT MEANINGLESS INDEX CLOSING ABOVE ARBITRARY NUMBER
– #XJO closes at 5199.8, highest since June 30, 2008. Just another 24.1% to go until all-time highs #ausbiz #rubberytradedata
– How the world has changed for #resources companies http://goo.gl/YHtXm
– The case for an RBA Cash Rate of 2% (from 2.75% today) http://goo.gl/Y28fO #Ausbiz
– First Coca-Cola Amatil (#CCL), now CSL (#CSL). Are Oz investors receiving the message that high valuations represent risk too? #equities
– Macquarie maintains: monetary policy less powerful than in the past, thus RBA will cut the cash rate to 2% by the end of 2013 #Ausbiz
– Macquarie Australian Conference: Oz company leaders accepting low growth as "New Normal"; focus on cost control and cost cutting
– JP Morgan: continue to expect 3Q pickup in economic activity that would be "meaningfully beneficial" metals use, supportive central bankers
– Says BA-ML: earnings risks remain for #miners but share prices already priced it all in. Various interesting value/dividend propositions
– Overnight: oil under pressure, base metals subdued, gold's trying while #China spot #ironore added US$1.90 to US$130.00 a tonne #resources
– ANZ Bank cut #commodity price forecasts by average 8% 2013, 6% in 2014. Largest cuts for #copper, nickel and #silver, smallest #ironore, WTI
– Credit Suisse is taking the contrarian view: bad news now is positioning Boral (#BLD) in a superior position when cyclical upswing arrives
– If you believe studying history is an exact science, then you're gonna love this piece of analysis http://goo.gl/Y2PrN #gold
– Inaugural best ideas report from Bank of America Merrrill Lynch picks 5 buy rated ideas out of 188 stocks – QAN, RIO, TWE, LLC, WOR #ausbiz
– Citi strategists observe nobody is confident while global equities continue their rally. Not funds managers, not even company CEOs #equities
– No relief in sight (maybe opposite!) as UBS analysts suspect potential for an earlier than expected earnings decline for Monadelphous (#MND)
– No relief in sight. JPM analysts state #BLY’s update at AGM likely to paint ongoing bleak near term outlook mineral exploration market
– Spot Iron Ore – China Import (Fines 62% FE) unchanged at US$128.10/dry tonne. ^JR
– Danske Bank lowers China GDP forecast (to 8%), but maintains US growth will surprise to the upside from next quarter onwards #equities
– Not what gold investors want to read: NAB #commodity analysts believe the #gold price will end this year below US$1,500 per ounce
– China's Services Sector Has Its Worst Growth In Nearly 2 Years http://bit.ly/11MYoJ2 ~BizInsider
– Macquarie observes US companies again outperformed expectations in Q1, except #resources. Sees further growth ahead US profits #equities
– JP Morgan economists maintain global economy is in the midst of a gradual and choppy transition toward stronger growth. Forecasts lowered
– BA-ML believes #RBA unlikely to cut rates in May with more data about non-resources investments likely to force its hand in June #equities
– Macquarie suggests it's damn right difficult to ignore/deny global econ momentum has waned, but believes #RBA might still hold off in May
– UBS suggests income investors should divert focus to #utilities stocks in Oz. Management teams can please investors just like banks do
– UBS doesn't think recent weakening in Oz data is strong enough to trigger RBA May rate cut. Remains confident low rates will gain traction
– JP Morgan observes relative premium built into InvoCare (#IVC) shares all-time high. Still likes quality grwth profile, downgrade to Neutral
– Citi thinks RBA Governor statement will acknowledge risks to downside are on the rise. Better rate cut sooner than later? #interestrates
– #China data discrepancy: too large too ignore. Another chapter to the public debate http://goo.gl/4XEWi
You can add my regular Tweets on Twitter via @filapek
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