Commodity Price Slump;Biogen Idec;RBC Canadian Open

Oil production is running sky high.Chinese growth is less than optimal and the grain growing season has been ideal,pointed out Dennis Gartman,editor of The Gartman Letter.You have the makings of a protracted commodity downturn.The dollar is so strong,it's cast a pall on all commodities.Everything is under pressure because of the strong dollar.*
Michael Yee of RBC Capital Markets likes Biogen Idec stock.We're telling people to buy the dip,he said.The stock will go higher and we continue to be positive here.The data on their candidate Alzheimer's drug will be out two years from now.The drug will hit the market in 2018.It looks like a very good risk-reward to us.The Biogen data looks very positive.*
The RBC Canadian Open was held before large and supportive crowds at Glen Abbey Golf Club in Oakville,Ontario over the weekend.Jason Day of Australia won his fourth PGA title,with American Bubba Watson taking second and Canadian David Hearn coming in third on the leader board.Canada's Graham DeLaet had to withdraw from the tournament because of a thumb injury.*
Biogen Idec (BIIB)

Westpac Exec:Why a Market Correction is in the Making

We're setting up assuming Sydney will become a renminbi trading hub,said Rob Whitfield,Group Executive of Westpac Institutional Bank.The November G20 meeting is absolutely an incentive to a free trade agreement with China.A China slowdown would slow down the economy.It would certainly affect our performance.*
I do see that we will really see a significant,meaningful asset price correction.Credit spreads are narrow,forcing a move by many into higher risk assets.Junk bond yields are at all time lows.Asset bubbles are emerging as share markets have posted successive record highs in recent times despite tapering and mixed economic results.It is my view that the current environment is ripe for a market correction that both looks and feels like what we experienced in 1994.At that time,US Treasury bond prices plummeted,causing the Fed to raise rates,which resulted in higher borrowing costs and a market correction.
Such an event need not freeze the credit markets this time the way the global financial crisis did,however.The financial system has been reformed since then.
The failures that perpetuated the recent crisis today no longer exist,Mr.Whitfield pointed out,and our ability to withstand shocks is much stronger.*
There's massive risk on the Scottish independence vote.A lot of the uncertainty has been priced in.Certainly there are lots of signs we've started to see a sea change with the US dollar,a big divergence between the US and the rest of the world.A lot of ugly ducklings are out there.It filters through the Federal open market committee on Wednesday-more event risk.There could be a lot of dollar-buying across the board,and Treasury-selling.If Fed chair Janet Yellen surprises it,the market will feel very disappointed.*
Westpac(WBK)