Turning Points: US Housing, Cyprus Bail-In, and Monetary Policy

Here’s a wrap-up of key issues affecting global markets for fundamental investors.

Currencies

• Growth in central bank balance sheets. (eFX News)
• The Swiss people move to save Swiss gold. (Reuters)

Commodities

• Copper prices conflicted by demand and Fed Policy. (Wall Street Journal)
• Chinese copper demand could absorb surplus in 2013. (Mineweb)

China’s Direction

• China’s economic growth expected to accelerate to 8.5% by OECD. (Bloomberg)
• China keeps 2013 growth target of 7.5% unchanged. (Xinhua)

Derivatives

• CME to launch CDS Futures in May. (Wall Street Journal)

Energy

• The end is nigh for global oil demand growth. (Financial Post)
• A bounty of natural gas from Barnett. (CNBC)

Euro Crisis

• Cyprus bail-out deal at a glance. (The Guardian)
• Cyprus bail-out deal explained. (Money Watch)
• “Cyprus: the Next Blunder” — a review of unintended consequences. (VOX)

Hedge Fund Money

• A review of Ray Dalio’s stock picks for 2013. (Insider Monkey)
• Two strong tech picks from Greenlight Capital. (Seeking Alpha)
• Paul Singer takes on Hess. (NY Post)

Interest Rates and Central Banks

• Fed’s Dudley stands by “very accommodative” monetary policy. (Fox Business)

Japanese Debt and Inflation

• Mr. Yen cautions on Japan’s unsafe debt trajectory. (Telegraph)
• Maybe BOJ Governor Kuroda’s body language will cue the market? (Wall Street Journal)
• The Japan bond splurge starts to spread in anticipation of accelerating bond purchases from the BOJ. (Wall Street Journal)

Stock Market

• Recent performance of the S&P 500 by sector. (Standard & Poor’s)

US Real Estate Bubble 2.0?

• Boston real estate prices heating up. (Boston.com)
• Home prices in Chicago rising versus the levels from just a year ago  — the first time since 2008 crisis. (Chicago Now)
• And in New York. (NY Times)
• The list goes on . . .

Time Capsule

• December 2008: The Madoff Scheme kept rippling outward: It’s hard to believe that it was almost five years ago that Madoff’s Ponzi scheme was discovered. This article examines Madoff’s fraudulent empire as it was unfolding.

Please note that the content of this site should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute.

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