The Director's Report provides updates on aggregate earnings revisions, growth rates and valuations.

Record gold and silver prices have created a stir in the market, with many pundits now placing their bets on silver as this decade’s “new gold.” In this study, we look at the relative attractiveness of gold and silver, which may help identify pairs trading opportunities.

A November 2010 Thomson Reuters Proprietary Research study pointed to strong momentum for gold over the medium term, identifying strong global liquidity and low interest rates as support for a continued rally. Since that report, gold prices have risen by about 6%. In this new study, we revisit the gold rush theme: a) examining and comparing the performance of gold mining stocks at a regional/country level, b) shedding light on gold’s key macroeconomic price drivers and its performance versus other metals, and c) gauging the short-term outlook based on the Commitment of Traders report.

The Commitment of Traders (COT) report is a valuable tool in gauging market sentiment and near-term market direction. Data on corn futures’ trading reveal that companies on the consumption end of that industry have been hedging more actively in the recent past than have companies on the production end. This likely reflects commercial buyers’ fear of rising prices. At the same time, another trading segment, money managers, have been increasing net positions. This trading activity indicates a near-term bullish outlook for corn.

The Commitment of Traders (COT) report helps analyze trends in the fluctuating positions of different classes of traders in futures markets. As such, it is a valuable tool in gauging market sentiment and near-term market direction. A top-level analysis of COT oil futures data, based on those who trade for industrial purposes (i.e., commercial sellers and buyers of oil), suggests a near-term neutral-to-bearish outlook for oil prices, as commercial sellers are hedging more than commercial buyers.

US Treasury Inflation-Protected Securities (TIPS) can help combat the drag of inflation -- but can they offer the best means to preserve purchasing power? As an asset class, how have TIPS performed vis-à-vis other assets, and does the current environment favor TIPS allocations? This study examines these issues, shedding light on TIPS as an asset class, their near-term outlook, and their attractiveness as portfolio diversifiers in the long term.

There appear to be diverging views on the direction of the housing market. While the market at a national level has shown erratic trends, how have regional markets fared? What do the demand/supply and price trends in these markets point to, and which regions look promising from an investment perspective? This study examines US housing market trends at a regional level to reveal demand/supply and price gaps, for those looking at investing in US residential property.

The US Commercial paper market did not remain unscathed by the financial/credit crisis. The underlying causes leading to the slump in issuances are not often discussed. In this report, we examine the factors that may have led to the shrinking volumes, and we also look at recent trends to gauge the health of the market and its near-term outlook.

What is propelling the yellow metal to such record highs? Has the rally translated into higher gains for gold mining stocks? What do major economic and market indicators point to? In this study, we examine these issues, with a larger objective of comparing gold bullion performance to broader commodities and to gold mining stocks.

Have the Summer 2010 European bank stress tests really helped boost market confidence? How have Greek bank stocks performed relative to the broader market and European peers? What are the strongest headwinds to medium-term performance? We examine these issues, while screening for stocks that look promising from a valuation perspective