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Day In Review:
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Day Ahead In US Financial Markets
Wed, Oct 22 2008, 09:13 GMT
by Joseph Brusuelas
Day In Review:
- US Fed creates $540bln new facility to relieve pressure on money market mutual funds caused by redemption requests.
- Weak earnings at bellwethers Caterpillar and DuPont, as well as, Texas Instruments and Sun Microsystems were the primary catalyst for a negative day in equities
- In after hours action. Apple beat earnings estimates coming at
- Flight to safety continued as the Yen continued to see multiyear highs against the Euro and saw another session of positive action vis-à-vis the dollar.
- Important regional banking concerns such as KeyCorp, US Bancorp, Regions Financial Corp and National City Corp all signaled that they may ultimately tap the US Treasury’s plan to recapitalize the banks.
- Lehman CDS settlement occurs without any collateral damage in the markets
Day Ahead
- No data risk on Wednesday
- Commercial Bank reserve settlement with Fed
- EIA Petroleum Status Report at 10:35 EDT
- Canadian retail sales and Japanese merchandise trade data at the head of a busy day in international markets
- US Treasury Paulson to speak on China and the global economy
- Minneapolis Fed President Stern to speak on topic TBA.
Published on Wed, Oct 22 2008, 09:45 GMT
Archive
- Day Ahead In US Financial Markets
Published On Wed, Oct 22 2008, 09:13 GMT - Day Ahead In US Financial Markets
Published On Tue, Oct 21 2008, 08:25 GMT - Day Ahead In US Financial Markets
Published On Wed, Oct 15 2008, 07:20 GMT - Day Ahead In US Financial Markets
Published On Wed, Oct 1 2008, 08:25 GMT - Day Ahead In US Financial Markets
Published On Tue, Sep 30 2008, 12:52 GMT
Merk
| Palo Alto, California
http://www.merkfund.com | insights@merkinvestments.com
Legal disclaimer and risk disclosure
The Merk Hard Currency Fund is a no-load mutual fund that invests in a basket of hard currencies from countries with strong monetary policies assembled to protect against the depreciation of the U.S. dollar relative to other currencies. The Fund may serve as a valuable diversification component as it seeks to protect against a decline in the dollar while potentially mitigating stock market, credit and interest riskswith the ease of investing in a mutual fund. The Fund may be appropriate for you if you are pursuing a long-term goal with a hard currency component to your portfolio; are willing to tolerate the risks associated with investments in foreign currencies; or are looking for a way to potentially mitigate downside risk in or profit from a secular bear market. For more information on the Fund and to download a prospectus, please visit www.merkfund.com. Investors should consider the investment objectives, risks and charges and expenses of the Merk Hard Currency Fund carefully before investing. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at www.merkfund.com or calling 866-MERK FUND. Please read the prospectus carefully before you invest. The Fund primarily invests in foreign currencies and as such, changes in currency exchange rates will affect the value of what the Fund owns and the price of the Funds shares. Investing in foreign instruments bears a greater risk than investing in domestic instruments for reasons such as volatility of currency exchange rates and, in some cases, limited geographic focus, political and economic instability, and relatively illiquid markets. The Fund is subject to interest rate risk which is the risk that debt securities in the Funds portfolio will decline in value because of increases in market interest rates. As a non-diversified fund, the Fund will be subject to more investment risk and potential for volatility than a diversified fund because its portfolio may, at times, focus on a limited number of issuers. The Fund may also invest in derivative securities which can be volatile and involve various types and degrees of risk. For a more complete discussion of these and other Fund risks please refer to the Funds prospectus. The views in this article were those of Axel Merk as of the newsletter's publication date and may not reflect his views at any time thereafter. These views and opinions should not be construed as investment advice nor considered as an offer to sell or a solicitation of an offer to buy shares of any securities mentioned herein. Mr. Merk is the founder and president of Merk Investments LLC and is the portfolio manager for the Merk Hard Currency Fund. Foreside Fund Services, LLC, distributor.Related reports
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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
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