Sat, May 7, 5:06 PM
- Barron's "ETF Roundtable" features David Cleary of Lazard, Fritz Folts of 3EDGE Asset Management, John Forlines III of JAForlines Global, and Will McGough from Stadion Money Management.
- ETFs they like include:
- Gold: iShares Gold Trust (NYSEARCA:IAU) "has a lower expense ratio (0.25%) than (NYSEARCA:GLD)," VanEck Vectors Gold Miners (NYSEARCA:GDX), and GLD.
- iShares Global Materials (NYSEARCA:MXI).
- Emerging markets: iShares Core MSCI Emerging Markets (NYSEARCA:IEMG), SPDR MSCI Emerging Markets Quality Mix (NYSEARCA:QEMM), iShares MSCI Brazil Capped (NYSEARCA:EWZ), EGShares India Infrastructure (NYSEARCA:INXX) "We like India in general as a long-term option," iShares Latin America 40 (NYSEARCA:ILF) "We're starting to see governance improvements in Latin America broadly," iShares J.P. Morgan USD Emerging Markets Bond (NYSEARCA:EMB).
- Emerging-market proxies: iShares MSCI Canada (NYSEARCA:EWC) and iShares MSCI Australia (NYSEARCA:EWA).
- iShares Core High Dividend ETF (NYSEARCA:HDV). iShares MSCI USA Minimum Volatility (NYSEARCA:USMV) "Now there's more uncertainty, and that's when these low-vol strategies do best."
- iShares North American Tech (NYSEARCA:IGM) and iShares U.S. Consumer Services (NYSEARCA:IYC), "We still like consumer services and technology."
- PowerShares QQQ (NASDAQ:QQQ), Vanguard Small Cap Value (NYSEARCA:VBR), "Blending the two doesn't tilt the portfolio too much in one direction or the other, because the combination blends small and large, growth and value."
- SPDR Barclays High Yield Bond ETF (NYSEARCA:JNK), PowerShares Fundamental High Yield Corporate Bond Portfolio (NYSEARCA:PHB).
- VanEck Vectors Fallen Angel High Yield Bond (NYSEARCA:ANGL), "These are viable companies, and although they've moved from investment- grade to high-yield, they're likely survivors."
- "We like preferreds, via the iShares U.S. Preferred Stock (NYSEARCA:PFF)." Also: iShares International High Yield Bond ETF (BATS:HYXU).
- iShares MSCI Europe Small-Cap (NASDAQ:IEUS).
Jun. 5, 2015, 12:41 PM
- The overall market capitalization of the world's 40 biggest miners has been cut in half over four years, sinking 16% Y/Y to $791B at the end of 2014, according to the latest annual survey by accounting firm PricewaterhouseCoopers.
- PwC said the top 40 miners' return on capital employed fell to its lowest level since at least 2005, and few companies, including Randgold Resources (NASDAQ:GOLD) and Norlisk Nickel (OTCPK:NILSY), topped 15%.
- The top 40's dividend coverage was just 1.1x, a practice PwC says "isn’t sustainable in the long term... dividends paid in 2014 consumed all available cash, reducing the balance sheet flexibility of miners."
- The consequence of the payouts and the falling market cap is that miners’ dividend yield rose to 5%, the highest in a decade.
- ETFs: GDX, NUGT, GGN, DUST, SIL, GLDX, XME, COPX, SGDM, BCX, ASA, SLVP, CU, RING, HAP, IRV, PSAU, MXI, GNR, TGLDX, PICK
May 26, 2015, 2:53 PM
- Energy and natural resources stocks are among today's weakest performers as a sharp increase in the dollar destabilized commodity markets.
- Nymex crude oil futures fell 2.8% to its lowest level in a week at $58.03/bbl, while Comex gold fell 1.4% to a two-week low $1,186.90/oz., as upbeat U.S. data on new home sales and consumer confidence helped lift the dollar.
- Adding to oil price weakness was commentary from Goldman Sachs expecting the global oil market to be oversupplied by 1.9M bbl/day this quarter, saying "the market now depends on how U.S. producers will respond to the recent rally and whether low-cost producers can sustainably deliver higher production."
- ETFs: GDX, USO, NUGT, OIL, XLE, GGN, DUST, UCO, SIL, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, UGL, DWTI, ERY, GLDX, DGP, DIG, GLL, DTO, UGLD, DZZ, DUG, BGR, USL, XES, IYE, GLDI, SGDM, IEO, BCX, ASA, SLVP, IEZ, DGL, DNO, DGZ, RING, FENY, PXE, DGLD, PXI, HAP, FIF, PXJ, IRV, PSAU, OLO, SZO, NDP, MXI, RYE, GNR, FXN, TGLDX, GUNR, TBAR, GEUR, UBG, GYEN, BAR, TWTI, OLEM, DDG
Jan. 14, 2015, 7:57 AM
- Mining stocks look headed for sizable losses, as copper prices sink to five-and-a-half year lows and the World Bank lowers its forecast for global economic growth.
- Glencore (OTCPK:GLCNF, OTCPK:GLNCY) -11.5% in London trading, Antofagasta (OTC:ANFGF) -7% in London, Anglo American (OTCPK:AAUKF, OTCPK:AAUKY) -9.5% in London, Vedanta (OTCPK:VDNRF) -18% in London, Rio Tinto (NYSE:RIO) -4.3% premarket in the U.S., VALE -2.9%, FCX -5.1%, CLF -2.6%.
- BHP Billiton (NYSE:BHP) -7.5% in London and -5.5% U.S. premarket after S&P Capital IQ downgraded shares to Hold from Buy, expecting "weaker commodity prices to increasingly impact on group profits as hedges expire and see currency headwinds from a stronger [U.S. dollar]."
- ETFs: XLB, XME, SLX, COPX, VAW, UYM, CU, IYM, HAP, IRV, MXI, SMN, GNR, GUNR, PICK, MATL, FXZ, PYZ, CRBQ, RTM, CCXE, FMAT, GRES, SBM
Mar. 20, 2012, 8:33 AM
The slides from the BHP presentation that's got markets spooked this morning. Slide 7 highlights the company's expectation that Chinese iron ore consumption - after more than quintupling between 2000 and 2012 - is not expected to be much higher in 2020 than it is today.| Mar. 20, 2012, 8:33 AM | 3 Comments
Mar. 20, 2012, 7:09 AM
Miners are leading declines in Europe following a BHP executive's comments that Chinese demand for iron ore is flattening out. Competitor Rio Tinto (RIO) quickly trotted out one of its execs to say solid growth continues in China, but the damage was done. BHP -2.9%, RIO -3.3% premarket. Aussie dollar -1.1%.| Mar. 20, 2012, 7:09 AM
May 1, 2011, 8:08 PM
"These record-high levels are probably not sustainable," says Jan du Plessis, CEO of Rio Tinto (RIO), talking about base metals prices. While remaining confident of continuing strong demand from China and India, du Plessis, is prepping his firm's balance sheet for falls in copper and iron ore.| May 1, 2011, 8:08 PM | 1 Comment
Apr. 5, 2011, 11:43 AM
In a move that could take some of the pressure off of record iron ore prices, India's Supreme Court ends a ban on shipments from the state of Karnataka. A major exporter, India has attempted to keep ore supplies at home to feed domestic steel producers. MXI +0.1%. SLX +0.5%.| Apr. 5, 2011, 11:43 AM
Feb. 16, 2011, 10:54 AM
China's attempt at gaining pricing leverage over major producers (VALE, BHP, RIO) by creating a "super-buyer" of iron ore is likely to be overwhelmed by market forces, says an RBS analyst. "Demand for the product is increasing significantly, and not just from China." MXI +0.4%.| Feb. 16, 2011, 10:54 AM
Jan. 12, 2011, 10:05 AM
Jan. 12, 2011, 8:20 AM
At 8:30, we get the USDA's roundup of farming commodity estimates and forecasts for this year and final figures for 2010. The report will be closely read for signs of runaway price inflation following a banner 2010 in which corn futures rose 52%, wheat 47%, and soybeans 32%.| Jan. 12, 2011, 8:20 AM | 1 Comment
Jan. 11, 2011, 5:42 PM
Grain and bean traders brace for the "Superbowl" of reports from the USDA tomorrow. Bullish numbers will be needed to keep feeding powerful rallies that started last summer. Current forecasts for ending stocks are so tight that a slight deviation in either direction could cause a significant price reaction.| Jan. 11, 2011, 5:42 PM