Word Per Word – #1

Word Per Word By The Faceless Trader

Word Per Word is a category space similar to he said/ she said, where I highlight/curate people’s verbatim quotes to which I deem quite relevant.  I may or may not agree with what the speakers say, but their views are worthy enough to consider.

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About the Overall Markets

“I think part of it was the data got better, and people got caught short going into the end of the quarter. Not only was it end of month. It was end of quarter. People became very risk averse. You had the hedge fund guys taking increasingly short positions. Then the data got a little better, and we had Greece,” said Richard Bernstein, chief executive officer of Richard Bernstein Advisors.

“I think the most important thing will be the U.S. data that comes out. If we get further confirmation there’s this bounce going on, I think that’s going to be the dominating force,” said Jens Nordvig, global head of G-10 foreign exchange strategy at Nomura Securities. “If you look at global markets broadly, one of the things that’s important is we had a mega rally in rates, including in countries where central bankers are on a tightening path.”

Read More Here: Week Ahead: Market Faces Its Next Hurdle—the Jobs Report

Jim Rogers on China

Rogers, who’s been visiting China since 1984, said the country has always been overbuilding. “So what if a bunch of guys, the real estate speculators in Shanghai go bankrupt, that’s not the (entire) Chinese economy,” he added.

Rogers thinks many parts of the Chinese economy such as water treatment, agriculture, infrastructure and tourism will continue to boom even after a major property correction.

Read More Here: China Bears Have It Wrong – Jim Rogers

Institutional Brokers

China could be set for a short term rebound primarily because the weak economic growth in 2Q FY11 wasn’t due to the weakened demand of the underlying economy but rather deliberately engineered by the government.  – Frank Li, JPMorgan’s China Head Strategist

– The Faceless Trader

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