Brazil's Vale : Iron-Ore Price Floor Still $110/Ton Long-Term
Brazilian Shares Close Little Changed, JBS Rises; Real Stronger Against Dollar
ArcelorMittal Warns on Profit as Lower Iron-Ore Price Takes Toll--Update
Brazil Stocks Close Lower; Real Weakens Against Dollar
Sluggishness in the country's real estate sector doesn't bode well for the broader commodities market.
Corporate credit spreads are fairly valued--albeit at the tight end of the range that we view as fairly valued.
We don't see the recent share price declines for metals and mining producers as a buying opportunity on average.
Low-cost resources will allow these basic materials names to maintain their profit margins despite a slowdown in China.
As consumers rapidly embrace online and mobile commerce, traditional retailers are scrambling to refine their strategies.
Improved demand should underpin stronger potash and PRB coal markets in 2014.