FYI | Apr 20 2012
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:
– Just heard on Sky Bizz: without resources Oz equities are up 16% – good to see my market analysis being quoted http://bit.ly/JpzlEy
– Citi (continued) :"expect that fiscal deficits will overshoot official forecasts in all the peripheral EMU countries this year and in 2013"
– Citi's infamous report: expect credit rating downgrades for Italy, Spain, Ireland, Portugal this year plus France's Aaa put "under review"
– Barclays: weakness presents buying opportunities in commodities; palladium, gold preferred in precious metals; copper, lead in base metals
– GS' Coppo: "resources are cheap & they have at least one more reasonable run in them before we need to really worry" (about falling prices)
– Forgot to mention earlier: UBS has also moved to Neutral on Resources stocks; global strategists retain defensive bias (so no Overweight)
– Market strategists are warming towards resources stocks again as China slowing abates; BAML is buying again, JPM has abandoned Underweight
– UBS strategists believe it is appropriate to reposition portfolios more defensively and to emphasize quality and income opportunities
– Global equity strategists at UBS are reducing exposure to cyclicals (having been Overweight for months) and prefer quality in yield
– Three major signs the bull market is ending http://on.mktw.net/J0KA84 via @tradingdeck
– Reports Barclays: Operating and capital costs for copper industry are rocketing. Marginal C1 operating mine costs have jumped 26% in a year
– Moody's delaying highly anticipated decision of possible ratings downgrade of 114 banks in Europe until May http://goo.gl/lusuT
– Predicts NAB: base metals prices are to track broadly sideways in 2012, with volatility, to be around 5½ per cent higher over the year
– US Equities now suffering from reverse Apple impact; underlying trend is actually positive but Apple shares correcting from parabolic rally
– Observation on US equities: global growth sensitive names the worst performers in April; Energy, Financials and Industrials; Apple lost 4.5%
– ANZ Bank: any steps by the PBOC to easy market conditions will likely be positive for commodities (prices) and demand in the current quarter
– Citi Small Caps Specialists say too early for cyclicals (though M&A coming), continue to prefer mining services & high quality, high PEs
– Citi strategists: we do not think equities pullback is over quite yet, 2H12 consensus earnings estimates remain too aggressive
– GS: "The path of least resistance in the short-term is for a correction.The US has not yet decoupled from markets in Europe and Asia"
– Kathleen Brooks (GainCapital): stocks won’t be able to push higher before more liquidity is pledged by central banks especially from the ECB
You can add my regular Tweets on Twitter via @filapek
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