If you thought US Treasury rates were lousy, get a load of this from AP Associated Press:
France sells bonds at negative interest rate
PARIS (AP) — France's government has sold short-term bonds at negative interest rates for the first time, a sign of investor confidence despite concerns about French debts and the wider eurozone.
Despite the dropping rates, France's economic outlook is stagnant. President Francois Hollande said Monday that growth in the first half of this year is expected to be "nil."
You know times are tough when investors pay for the privilege receiving negative yields. It does not say much for the notion of capital preservation.
Energy / Commodities
Natural gas stocks are beginning to look attractive to us. Nat gas contract prices appear to be firming up and one name we like in the independent oil & gas space is Cimarex Energy (XEC). Our dual cash flow and accrual analysis screen suggests shares are significantly undervalued at current levels. You can view the full Merriam Report analysis of Cimarex Energy here
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