Thursday, 11 November 2010
good news November 10
* U.S. initial unemployment claims down (key barometer for growth in the fourth quarter and approximately indicating 2.5% growth now).
* Japanese stock market friendly in story that Japanese (and Chinese) banks don’t need so much do for Basel III as initially feared. Also they are less worried about too strong yen.
* There is a theme developing you should buy laggards (Japan and financials).
* ING plans and figures were better than expected. Allianz also was not that bad.
* Philippine exports last month grew by 46% over the previous year. For decades, the growth of the Philippines fell behind that of Asia (in 1945 it was almost the richest country in Asia), but now at least have the trend of improving growth numbers.
* Deutsche Bank had a positive and believable story of why the S & P 500 next year should go to 1500 +.
* High prices for rare metals have accompanied create new investment in Kazakhstan, Kyrgyzstan and Greenland.
* ASR showed that air freight transport after some weakening is improving again, a leading indicator for stronger growth in the world (see picture).