Pathlight Investors’ Top Recommended Reads - September 2013

  • Posted on: 9 December 2015
  • By: admin

Ready for some more great articles?  Here's our picks for September 2013:  

European peripheral sovereign appetites increase; spreads between Spanish and German borrowing costs narrowed to the slimmest level in the past two years; improving growth trends and macro calm is helping to spur increased buying – WSJ      

Earnings vs. stock prices – the WSJ discusses how profit growth is slowing and multiples are expanding; “valuations are heading towards  the expensive side of the ledger at a time when the biggest boost from the earnings recovery may be in the rearview mirror – WSJ

Fed chairman – economists responding to a Bloomberg survey view Yellen as the most qualified and most likely candidate to become Fed chairman.  65% of economists think Obama will select Yellen (vs. 25% for Summers and 6% for Kohn).  Bloomberg 

How the debt ceiling battle could unfold – it sounds like Boehner will initially attack the ACA in the ceiling negotiations although won’t push for a full de-funding of the bill. Instead, House Republicans could push for a delay to the individual mandate and/or an abolition of the medical device tax (delaying the mandate could wind up lowering the deficit).  Keystone approval is another bargaining chip Republicans could demand.  At the end of the day though it looks like Washington isn’t facing an easy fall – “some Hill aides are grimly bracing for a series of bills to buy time by raising or suspending the debt limit for brief periods throughout the fall”.   

China – Wall St banks raise growth ests; Credit Suisse became the latest sell-side firm to raise Chinese growth ests (they came out Mon morning); Barclays thinks growth may have accelerated; last Thurs Deutsche Bank bumped their forecasts – WSJ  

Russia to send two ships to east Mediterranean – Russia will send two ships to the east Mediterranean to strengthen its naval presence because of the "well-known situation" there – Reuters

India to monetize its gold?  India’s trade minister Thurs said the RBI should consider monetizing its gold holdings.  “Any talk of using the country's gold to help meet India's international obligations revives memories of a 1991 balance of payments crisis - when India flew 47 tonnes of gold to Europe as collateral to avoid a sovereign debt default” – Reuters   



 And On A Lighter Note…

Florida to call on Labrador retrievers to stem Giant Snail invasion:

Chinese zoo tries passing off dog as an 'African lion':