E Stagflation?

Canada etcetera

*Vermillion Energy was rated strong buy with a target price of C$35, up from 33, by Raymond James brokerage. VET fell fractionally because it earns C$s.

*Yesterday, US energy secretary Rick Perry claimed that Chinese need for LNG is helping in the still stalled trade talks. FERC is playing footsie with the Chinese by delaying the approvals for Jordan Cove (OR) plant which our Pembina Pipelines is still waiting for. China is being beastly to Canada as it doesn't dare try to put pressure on the USA. PBA is the victim.

*Barrick Gold, GOLD, has abandoned its $18 bn takeover bid for Newmont in favor of a jv covering their mines in Nevada. It will have 3 seats on the board to Newmont's 2. The payment of huge Newmont change of control bonuses to Goldcorp execs estimated at $33 mn has been attacked by Shareholders' Gold Council leaders. They are Adrian Day, a newsletter writer, and John Paulson, a fund manager, both savvy gold investors. GOLD is up on the news that the Goldcorp execs back the jv.

Funds

*SPDR Gold Trust, GLD, was the 11th most widely optioned ETF from the group in Feb.

*Mexican Fibra Uno shares dropped 2.6% yesterday in European trading on fear of AMLO. FUNO or FBASF.

*Taiwan Fund will use Allianz Global Investors' US arm to manage its fund subject to shareholder okay. It had $577 bn in assets under management at the end of the last year plus $5.516 bn of Taiwan mandates. TWN will also repurchase up to 10% of the shares out over the next year to chop the discount from NAV. It has also negotiated lower fees for service providers and these will be reduced by 20%. with a target of expenses at 1.5% of assets under management. AZSEY sub Pimco is its main US arm but it also uses other entities to handle stocks.

*Canadian General Investments, CGRIF, closed out last week with a share price of C$23.71, down 24 loony cents, and a net asset value per share of C$34.01, down 3 cents. It almost always trades at a huge discount from NAV , despite being a member of the US Closed-end Fund Association, CEFA. Maybe it would help if they figured out the discount in time for publication in Barron's or the WSJ.

*SPDR S Trust Citi Intl Govt Inflation ETF, WIP, is in our portfolio just in case inflation rises. It is up 0.75% because people worry about the latest Trump budget proposal and the risks Liz Ann Sanders wrote about.

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Comments

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Carol Klein 1 year ago Member's comment

Good article Vivian, but I think you made an error. I read the article by David Goldman you referenced. But on Seeking Alpha, not Asia Times.

Leslie Miriam 1 year ago Member's comment

Thanks, have the link?

Carol Klein 1 year ago Member's comment

I think it was deleted. Maybe something fishy is going on.