Strategy

February 27, 2015

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Wage Price Index showed that the rate of wages growth in Australia has slowed to a record low of 2.5%. That�s bad news for workers used to higher increases over the past two decades.	India Can Not Go UP Forever - time to sell Indian stocks?	Continued catch the falling knife trading
This deflation is nothing to worry about. For a net importer like the US, lower gasoline prices are a good thing	Will New House of Cards Soften US Russia Relations?	China�s president Xi Jinping unveils �Four Comprehensives�
Did Buyuksarac Insult Erdogan?	Korea Exchange IPO Korea Investment & Securities, KDB Daewoo to Become Main Beneficiaries of KRX IPO	It looks like the oil price is weaker rather than stronger
Sanctions bare investors from quality credit

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Wage Price Index showed that the rate of wages growth in Australia has slowed to a record low of 2.5%. That�s bad news for workers used to higher increases over the past two decades.

The terms of trade represents the price relationship between what Australia is being paid for exports and what we pay for imports. This is then reflected in income to Australian firms and by definition, informs their ability to grant pay rises. So falling terms of trade means a decreased ability to pay higher wages � which is where we are now.

Source:http://www.businessinsider.com.au/chart-of-the-day-if-this-relationship-holds-there-is-more-bad-news-coming-for-australian-workers-2015-2

India Can Not Go UP Forever - time to sell Indian stocks?

ETF issuer Direxion recently pointed out to us the level of inflows that India Equity based ETFs have seen in the past year or so (topping $4 billion collectively) and without really needing to state the obvious, this puts the collective assets under management across India focused Equity ETFs at all-time highs.

Source:http://www.etftrends.com/2015/02/etf-chart-of-the-day-india-adventure/

Continued catch the falling knife trading

Investors are rushing into the top exchange-traded fund that follows oil

Source:http://www.bloomberg.com/news/articles/2015-02-25/rush-to-biggest-oil-fund-echoes-last-collapse-chart-of-the-day

This deflation is nothing to worry about. For a net importer like the US, lower gasoline prices are a good thing

On Thursday, the consumer price index showed that prices fell 0.1% in January compared to last year.

Source:http://www.businessinsider.com/markets-chart-of-the-day-february-26-2015-2

Will New House of Cards Soften US Russia Relations?

Source:

China�s president Xi Jinping unveils �Four Comprehensives�

With a week to go until the National People�s Congress, China�s annual rubberstamp parliament, President Xi Jinping unveiled his latest political slogan, the �Four Comprehensives�, a call for a more prosperous country and deeper reform.

Source:http://www.irishtimes.com/news/world/asia-pacific/china-s-president-xi-jinping-unveils-four-comprehensives-1.2118783

Did Buyuksarac Insult Erdogan?

The 2006 Miss Turkey, who was briefly detained last month, told an Istanbul court that she did not intend to insult the president. In her testimony, Buyuksarac said she may have quoted a poem called the �Master�s Poem� from weekly Turkish satirical magazine Uykusuz. But the 26-year-old said she later deleted it after one of her friends warned her that such posts could bring criminal charges in Turkey. The �Master�s Poem� � which was shared by the model while Erdogan was serving as prime minister � criticises the Turkish strongman with lyrics adapted from the national anthem. Read more: Turkish model faces jail for �insulting Erdogan� - The Times of Israel http://www.timesofisrael.com/liveblog_entry/turkish-model-faces-jail-for-insulting-erdogan/#ixzz3SvyAvrFJ Follow us: @timesofisrael on Twitter | timesofisrael on Facebook

Source:

Korea Exchange IPO Korea Investment & Securities, KDB Daewoo to Become Main Beneficiaries of KRX IPO

Source:http://www.businesskorea.co.kr/article/8987/korea-exchange-ipo-korea-investment-securities-kdb-daewoo-become-main-beneficiaries-krx

It looks like the oil price is weaker rather than stronger

Source:http://www.midlincoln.com/mm/mmfeb26.html

Sanctions bare investors from quality credit

Lots of opportunities on bond markets - here is all around leveraged Petrobras with adjusted debt to Ebitda of 5.3x and Gazpromneft which trades wider and is pretty much unleveraged. YTM Gazprom Neft vs Petrobras

Source:http://www.midlincoln.com/mm/mmfeb27.html