Japan’s rebound from the aftermath of a record earthquake was probably cut short in the fourth quarter. Gross domestic product (JGDPAGDP) probably shrank in October and November, pointing to a 0.1 percent contraction for the quarter, according to calculations by the Japan Center for Economic Research, an independent analysis group in Tokyo.
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Thursday, January 5, 2012
Gold traders are the most bullish in a month as Europe’s deepening debt crisis and increasing tensions over Iran drove the metal to its longest winning streak since October.
Robert Charles & Co., L.P. 2011 Proprietary Volatility Arbitrage Program Performance Numbers Compiled By CTA Services
Monthly Performance Detail All Accounts Sep-Dec 2011 2012-01-03
Robert Charles & Co., L.P. and its affiliates were strictly proprietary traders for 16 years generating average annual returns of over 30 percent. Robert Teel, principal and founder of Robert Charles is a member of the CME, CBOT, and COMEX division of NYMEX. After a partner in Robert Charles passed away last year at the age of 98, Mr. Teel decided to change the firm's business model to concentrate on building a CTA business focused on quantitative analysis of the risk metrics in addition to the return side of the equation. The firm will continue its proprietary trading as well. The firm is also excited to announce that as extension of its energy trading it has established what is believed to the first commodities pool in the United States to focus entirely on the carbon credit, cap and trade, and emissions markets.
Jan. 4 (Bloomberg) -- Bill Gross is backing away from Pacific Investment Management Co.’s outlook for a “new normal” after lagging behind the majority of his peers during the biggest bond-market rally in nine years.
Interest rates can turn quickly, as the Greek government learned when its 10-year bond soared more than 9 percentage points in the past year on default worries. Such danger has some fixed-income investors considering a new approach: mutual funds that hold a variety of bonds, including U.S. Treasuries, corporates, mortgage-backed securities, municipals, and senior bank loans. Especially attractive now are multisector funds touting a more active approach to portfolio management, with the flexibility to drift from benchmark allocations to respond to changing market conditions.
Dec. 31 (Bloomberg) -- Greek and Italian government bonds had their worst years on record as Europe’s financial woes intensified, driving investors to sell securities of Europe’s most indebted nations.
Rich to Invest More in Commodities, Reduce Cash - Bloomberg
Wealthy investors plan to increase their allocations to commodities and private companies while decreasing their cash holdings this year, according to a survey released today.
About 48 percent of respondents said they plan to add to commodities investments during 2012 and 55 percent said they intend to make more direct investments in private companies, according to a survey by the Institute for Private Investors. About 45 percent plan to increase real-estate holdings, said IPI’s survey of its members, who are families with at least $30 million in investable assets.
The average price of aluminum was 11 percent lower in the quarter from a year earlier after global growth decelerated amid a sovereign-debt crisis in Europe and government action to control inflation in China. Supply is exceeding demand and inventories have soared, leaving some smelters unprofitable at current metal prices. Alcoa said today it would close 12 percent of its smelting capacity amid falling prices.
Corn prices fell Thursday after new forecasts predicted rain in Argentina, where the crop has already been damaged by hot, dry weather.
There’s a school of thought that Greece is destined for so much financial pain that it would be better off outside the euro system. The secessionists’ reasoning goes like this: Suppose Greece somehow resolves its short-term debt problems through default or other means and brings its budget deficits under control. It will still have a crippling lack of competitiveness. Labor costs in Greece have risen much faster than in Germany and the rest of the euro core, making its exports expensive and imports cheap. The result is chronic trade deficits, which must be financed through continued borrowing.
NYSE Liffe U.S., the U.S. futures exchange of NYSE Euronext (NYX), today announced it has secured an exclusive license to launch futures contracts based on The Depository Trust and Clearing Corporation's proprietary DTCC GCF Repo IndexTM. The DTCC GCF (General Collateral Finance) Repo IndexTM was created to enhance transparency and liquidity in the multi-billion-dollar GCF Repo(R) market. It tracks the average interest rate paid each day for the most-traded general collateral repos involving U.S. Treasury securities, Agency securities and Agency Mortgage-Backed securities. NYSE Liffe U.S. listed futures on the DTCC GCF Repo Index(TM) are expected to launch in early 2012 and will benefit from the powerful 'one-pot' margin efficiencies of New York Portfolio Clearing (NYPC).
After turning the page on Libya's oil-supply shutdown last year, markets now have a new drama to worry about: the rising tensions between Iran and the West. In recent days, Iran has threatened to block the Strait of Hormuz, the channel through which about a third of global seaborne oil exports pass. The saber-rattling from Tehran has come in response to moves toward new sanctions by Western nations aimed at Iran's nuclear program. The tough talk has spurred fears of supply shortages, driving prices higher. But experts say abrupt disruptions of crude from the Gulf region appear unlikely.
Crude oil inventories declined 4.43 million barrels to 334.5 million last week, the American Petroleum Institute said.
The dollar index accelerated up to an 11-1/2 month high after an Italian bond auction Thursday sold only 7.02 billion euros of the Italian debt, below the maximum target of 8.5 billion euros and a sign of slack demand.
(Kitco News) – Comex February gold futures prices ended the U.S. day session higher and near the daily high after trading on both sides of unchanged in choppy price action. There has been fresh safe-haven investment demand for gold surface this week, amid fresh tensions between the U.S. and Iran, and amid the ongoing European Union sovereign debt crisis. The gold market held its own Thursday despite a sharp rise in the U.S. dollar index. February gold last traded up $11.10 at $1,623.80 an ounce. Spot gold was last quoted up $10.60 an ounce at $1,623.75. March Comex silver last traded up $0.273 at $29.37 an ounce.
The Australian dollar dropped against all of its 16 most-traded counterparts as concern that Europe’s sovereign-debt crisis is worsening damped demand for higher- yielding assets.
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