MarketSaga

Saga of Financial Markets

Fri12152017

Last updateSat, 29 Jul 2017 12am

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China is cheaper than Turkey!

The resent relatively indiscriminate selloff in emerging markets, made China’s shares cheaper than Turkey and Argentina.  With an estimated 2014 P/E (price-to-earnings ratio) of 8.1, China is the cheapest major market in the world on a forward-looking P/E basis!  MSCI Emerging Markets Index’s P/E is about 10.

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Will Europe continue to be the Favourite for US Investors

Last year, European stocks was the new favourite for US investors.  According to Financial Times, US purchases of European shares surged to levels last seen in the run-up to the launch of the Euro in 1999.  Calculations by Barclays show that by November last year, US net purchases of European stocks, on a rolling 12-month average, had reached the equivalent of 0.75% of the market’s total capitalisation – the highest October 1996.  EPFR, the funds data provider, emerges a similar picture – dollar inflows into western European funds last year were equivalent to more than 65% of assets under management.

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Is US High Yield a risky investment?

“What is the most hated investment class in the market? EM equity? Probably that has happened already. EM bonds? So has that. US high yield seems more at risk than emerging markets.” - Tanguy Le Saout, Head of European Fixed Income of Pioneer Investments.

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What will stop US markets’ Bull?

Dow Jones Industrial Average, S&P 500 had broken its record again and again, surpassing its previous high.  Nasdaq for the first time since the euphoria of the tech bubble, rose above 4,000!  At the moment, it seems that nothing could stop the “bull” in US market.  In investment trend is our friend, but with market this hot, it would good to know what would reverse the trend.

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Will the Fed Taper in December 2013?

Will the Fed taper in December 2013? I don’t think so.  Why?

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