U.S. Oil Services & Drilling: 2013 Outlook: The Mega-Cycle Rolls On
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The mega cycle for the oil services industry will continue in 2013, in our view, though it remains largely obscured by concerns over the "fiscal cliff" in the U.S., an unsteady recovery in China, the ongoing debt saga in Europe and depressed equity valuations globally. Despite the macro anxieties, the reason to own oil services stocks remains clear, in our view: the world is increasingly short energy, hydrocarbon prices are at attractive levels for investment and are likely to rise further, CAPEX on energy investments is growing and, as the bottleneck, the oil services companies are likely to capture the lion's share of the economic benefit of this unfolding trend. We remain bullish on the oil services, equipment and drilling companies and expect the group to significantly outperform the broader equity market over the next several years.
Showing posts with label 2013 Outlook. Show all posts
Showing posts with label 2013 Outlook. Show all posts
Friday, December 21, 2012
Thursday, December 20, 2012
2013 U.S. High Yield Default Outlook
Fitchratings.com
2013 U.S. High Yield Default Outlook
Fitch Ratings projects that the U.S. high yield default rate will remain low in 2013. However, the rate needs to be viewed with caution as more of a lagging rather than leading indicator of credit conditions.
2013 U.S. High Yield Default Outlook
Fitch Ratings projects that the U.S. high yield default rate will remain low in 2013. However, the rate needs to be viewed with caution as more of a lagging rather than leading indicator of credit conditions.
Friday, December 14, 2012
US Outlook 2013
US Outlook 2013
Bulent Baygun,Interest Rate Team - Rates
Desknotes US | 14 Dec 2012 15:29 |
Summary
We are facing a period of increased demand for high-quality paper, which should
keep funds flowing into Treasuries, agencies, mortgages and SSAs.
Bulent Baygun,Interest Rate Team - Rates
Desknotes US | 14 Dec 2012 15:29 |
Summary
We are facing a period of increased demand for high-quality paper, which should
keep funds flowing into Treasuries, agencies, mortgages and SSAs.
Global inflation outlook 2013
Global inflation outlook 2013
Azusa Kato,David Tinsley,Dominique Barbet,Gizem Kara,Jacqueline Rong,Jeremy Lawson,Marcelo Carvalho,Ryutaro Kono,Xingdong Chen - Market Economics
Economic Desknote Global | 14 Dec 2012 12:52 |
Summary
Global Outlook
We expect global inflation in 2013 to remain broadly unchanged from 2012, at around 3½%. Inflation rates will vary between regions and countries, though. Although inflation should remain stable around 2% in the higher-income economies, emerging and developing economies are likely to see inflation edge up slightly, to 5.4% from 5.2% in 2012. Among the advanced economies, US inflation is likely to remain broadly stable at around 2% in 2013, while in the eurozone, we expect inflation to slow to 1.6% in 2013 from 2.5% in 2012. Among the major emerging economies, Asia ex-Japan and Latin America should see inflation inch up next year. Most notably, our forecast for Brazil suggests that inflation is likely to be much more of a headache than people think.
Azusa Kato,David Tinsley,Dominique Barbet,Gizem Kara,Jacqueline Rong,Jeremy Lawson,Marcelo Carvalho,Ryutaro Kono,Xingdong Chen - Market Economics
Economic Desknote Global | 14 Dec 2012 12:52 |
Summary
Global Outlook
We expect global inflation in 2013 to remain broadly unchanged from 2012, at around 3½%. Inflation rates will vary between regions and countries, though. Although inflation should remain stable around 2% in the higher-income economies, emerging and developing economies are likely to see inflation edge up slightly, to 5.4% from 5.2% in 2012. Among the advanced economies, US inflation is likely to remain broadly stable at around 2% in 2013, while in the eurozone, we expect inflation to slow to 1.6% in 2013 from 2.5% in 2012. Among the major emerging economies, Asia ex-Japan and Latin America should see inflation inch up next year. Most notably, our forecast for Brazil suggests that inflation is likely to be much more of a headache than people think.
Wednesday, December 5, 2012
U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013
World Property Channel
U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013
Posted by Hortense Leon 12/05/12 8:18 PM EST
Although the U.S. multi-housing vacancy rate is expected to go up in 2013, it will remain near the historic average.
U.S. Multi-Family Sector's Vacancy Rates Expected to Rise in 2013
Posted by Hortense Leon 12/05/12 8:18 PM EST
Although the U.S. multi-housing vacancy rate is expected to go up in 2013, it will remain near the historic average.
Wednesday, November 21, 2012
2013 Outlook Commodities Review: European Gas and LNG
2013 Outlook
Commodities Review
European Gas and LNG
Thierry Bros
Key points
■ On 8 October, the second 27.5 bcm/y Nord Stream line was launched, bringing the facility’s total capacity to 55 bcm/y (the first line was opened in November 2011). The pipeline is designed to bring greater stability to the supply of Russian gas to Europe by reducing dependence on transit countries, with which Russia has repeatedly faced serious issues over gas prices.
Commodities Review
European Gas and LNG
Thierry Bros
Key points
■ On 8 October, the second 27.5 bcm/y Nord Stream line was launched, bringing the facility’s total capacity to 55 bcm/y (the first line was opened in November 2011). The pipeline is designed to bring greater stability to the supply of Russian gas to Europe by reducing dependence on transit countries, with which Russia has repeatedly faced serious issues over gas prices.
2013 Outlook Commodities Review: US Natural Gas
2013 Outlook
Commodities Review
US Natural Gas
Laurent Key
Key points
■ The US natural gas forward curve is, in our opinion, well priced for the start of the winter but too expensive from March to the rest of 2013. Cal 13 price forecast is $3.52/MMbtu, 40 cents below the current curve.
Commodities Review
US Natural Gas
Laurent Key
Key points
■ The US natural gas forward curve is, in our opinion, well priced for the start of the winter but too expensive from March to the rest of 2013. Cal 13 price forecast is $3.52/MMbtu, 40 cents below the current curve.
2013 Outlook Commodities Review: Oil
2013 Outlook
Commodities Review
Oil
Michael Wittner
Key points
■ The outlook for oil market fundamentals is neutral through 2013. With another year of sluggish economic growth expected, global demand growth is forecast at 0.8 Mb/d next year, driven by emerging markets east of Suez.
Commodities Review
Oil
Michael Wittner
Key points
■ The outlook for oil market fundamentals is neutral through 2013. With another year of sluggish economic growth expected, global demand growth is forecast at 0.8 Mb/d next year, driven by emerging markets east of Suez.
2013 Outlook Commodities Review: Copper
2013 Outlook
Commodities Review
Copper
Robin Bhar
Key points
■ At current levels, around $7,600/t, we anticipate limited downside risk as fundamentally the copper market remains tight; there is scope for prices to rise given a belief that the Chinese economy has bottomed and a rebound is expected over the coming months.
Commodities Review
Copper
Robin Bhar
Key points
■ At current levels, around $7,600/t, we anticipate limited downside risk as fundamentally the copper market remains tight; there is scope for prices to rise given a belief that the Chinese economy has bottomed and a rebound is expected over the coming months.
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