Spanish worries tarnish growth outlook

London (Reuters) - European shares edged up but the euro fell and German bonds trimmed their losses on Monday as a resurgence of worries about Europe undermined positive sentiment stemming from stronger U.S. and Chinese economic data.


However, the rising confidence in the global economic recovery underpinned oil and copper, although prices moved in narrow ranges at the start of a week which sees policy meeting by several major central banks and a summit of European leaders.


"We are now seeing a consistent story of moderate growth in the U.S. and China," said Ric Spooner, chief market analyst at CMC Markets in Sydney.


The economic outlook brightened considerably last week after data showed U.S. factory activity quickened in January and hiring increased, and after a survey of euro zone business activity suggested the worst of the region's downturn may be over.


On Sunday China's official purchasing managers' index (PMI) for the increasingly important services sector posted a fourth-straight monthly rise in January, although its slim gain added to evidence that the global recovery is a modest one.


But Spain dampened the mood in Europe by reporting that its unemployment problems are worsening as a corruption scandal threatens to engulf Prime Minister Mariano Rajoy, with the opposition calling for his resignation.


"If Rajoy were really forced to resign, if we were to have new elections in Spain, that would not help the improvement we've seen in financial markets," Tobias Blattner, European economist at Daiwa Capital Markets said.


Ten-year Spanish government bond yields rose 11 basis points to 5.32 percent in early Monday trade.


The equivalent Italian yields also rose on concerns that a scandal involving a major domestic bank could boost support for the centre-right party led by former prime minister Silvio Berlusconi as election day approaches.


The German Bund future which had opened 53 ticks lower at 141.48, trimmed its losses to be only down 13 ticks.


The pan-European FTSEurofirst 300 index <.fteu3> held near a 23-month high after a solid rally since the start of the year to be up 0.15 percent. London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> were flat to slightly lower.


Meanwhile the euro fell 0.3 percent to a day's low of $1.3602 after the Spanish jobs data was released, with bids cited at $1.3580 and $1.3600.


(Reporting by Richard Hubbard. Editing by David Stamp)



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IHT Rendezvous: In Villages, Praying for the Souls of Tibetan Self-Immolators

BEIJING — Since November, when cold winter began in the high Tibetan Plateau, thousands of Tibetan villagers have been gathering daily to pray for the souls of the nearly 100 Tibetans who have burned themselves to death in protest over Chinese rule, in a show of widespread support for the self-immolators among ordinary people, according to witness testimony from a person recently returned from the region.

In traditional winter prayer meetings in villages, they gather to chant “Om mani padme hum,” Tibetan Buddhism’s most important mantra, which speeds a soul toward a good reincarnation, said the person, who witnessed a meeting in the Tibetan region of Qinghai Province in China.

The meetings are a sign of support for the self-immolators and point to widespread dislike among ordinary Tibetans for repressive policies in the region that have turned it into an “open-air prison,” said one ethnic Tibetan police officer in Lhasa, quoted by the witness.

The witness cannot be identified because of the high risk of persecution by the Chinese authorities. But the reliable account of ongoing, severe repression and resentment among Tibetans confirms other reports from the Tibet Autonomous Region or from Tibetan regions in Chinese provinces, where the authorities have been cracking down as they try to stop the spread of the self-immolations.

Chinese courts last week sentenced eight Tibetans for helping self-immolators, The Associated Press reported, including one man to death with a two-year reprieve, and others to between 3 and 12 years in jail, according to Xinhua, the state news agency.

The detail and content of the grass-roots prayer meetings is new.

“The meetings are a traditional thing to do during the winter and are held daily in different villages, and last three days,” the witness said. They are known in Chinese as “fahui,” or dharma meetings (also Buddhist law meetings).

“People drive on motorbikes for long distances, 50 or 60 kilometers, to whichever village is holding a prayer meeting. It’s mostly adults, and they are anywhere between 16 and over 80 years old. As soon as they can drive a motorbike, they’ll go,” the person said.

“Around 1,000 people may attend, often going from one meeting to another without returning home.”

“Their aim is for each meeting to have chanted ‘Om mani padme hum’ 100 million times. There’s no question that they regard the self-immolators as very great, and believe that with the help of their prayers, they will come back as powerful and blessed people,” said the person, who confessed to having reservations about the self-immolations.

Yet, “It’s extremely moving. Because if the self-immolations really were a mistake, how could they get so much support and sympathy form ordinary people?”

As my colleague Jim Yardley reports from India, where many Tibetans live in exile, some there are questioning the self-immolations.

The witness confirmed that, saying: “There is a feeling among some Tibetans,” especially monks or those in the religious hierarchy, “that the Dalai Lama needs to say something to stop it.”

Yet Tibetans who are deeply unhappy with Chinese rule are constrained in how they can protest.

“The problem is that Tibetans are Buddhists. The way things are there now, in other places, people might rise up and set off bombs. But they can’t do that because Buddhists believe you shouldn’t destroy other people’s happiness. So the only way they can protest is by killing themselves,” the person said.

And so the grass-roots support goes on.

The testimony from this person also confirmed reports of a very harsh crackdown under way in Lhasa, seat of the Jokhang, Tibet’s holiest temple, and the Potala Palace, the former home of the Dalai Lama, whom Tibetans revere and who has lived in exile since fleeing the Chinese in 1959.

The crackdown, in response to the self-immolations that began not long after an uprising in Lhasa was crushed in 2008, has turned Tibet into “an open-air prison,” said an ethnic Tibetan police officer. Like some other ethnic Tibetan police officers, he was considering resigning his post, he said.

“Lhasa used to be a sacred place for Buddhism. Now it’s a sacred place for Marxism-Leninism,” he said. “Every day there are meetings where leaders both big and small tell you that maintaining stability,” or “weiwen,” in Chinese, “is the most important thing, what the main tasks in Lhasa are. Lhasa is no longer a Buddhist sacred place,” he said.

“Lhasa is stuffed with police, every 10 paces there are several. I am growing to hate my own work. It’s really not possible to keep doing it. Some have already resigned,” he told the witness.

The crackdown includes forbidding ethnic Tibetans from the outlying regions, like Qinghai or Sichuan Provinces, which lie outside Tibet proper, from traveling to Tibet and is strictly enforced at airports and other transport nodes. Ethnic Han Chinese, however, can pass, effectively making Tibet out of bounds for many Tibetans.

Any Tibetan from outside the region wishing to travel to Lhasa must have a “sponsor” in the city working for the government, the witness said. They must surrender their identity cards and be photographed. Uniformed and plainclothes police officers and military patrol heavily in the city, trying to stop self-immolations.

The ban on ethnic Tibetans from outside Tibet, many of whom have traditionally taken pilgrimages to Lhasa, means that hotels and other businesses in the city have suffered since last May when they were ordered shut to such travelers. A petition is currently circulating from hotel owners asking the government to compensate them financially, “or we will take our request higher.” For reasons of political sensitivity, the petition, which has been seen by this newspaper, cannot be discussed in detail.

It is also extremely difficult for ordinary ethnic Tibetans to get a passport, meaning they cannot travel overseas, the witness said. The person believes the government’s motive is to minimize accounts, like this one, of the harsh repression in the region.

“They don’t want Tibetans leaving the country and telling the world what’s happening there. Hundreds of people leaving and telling the world is very different from one or two,” the person said.

With the Lunar New Year approaching, the prayer meetings will soon be scaled back, as farm work and animal husbandry resume. For now, though, the villagers are praying hard for the souls of the dead, millions of mantras circulating in the thin air of the plateau.

“They say, we want their lives to come back. We want world peace. They pray for Tibet to have peaceful and happy days, and the world, too,” the person said.

Said the police officer: “Living in this tightly controlled atmosphere is unbearable. There’s no feeling of happiness. But maybe it’s good this way, it may speed up the day when the situation has to change. But I don’t have the courage to self-immolate. Maybe after I retire I’ll go to Beijing and petition.”

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Here comes the PlayStation 4: Sony announces February 20th PlayStation event [video]






Here are the ps4 specs I found. I don’t know why they didn’t post them in the article. you can easily find them by searching ps4 specs.
PS4/Orbis (Speculated)
PS4 XrossMediaBar + Gaikai cloud service Redesigned to be more user-friendly and fluid
CPU: 4x Dual-Core AMD64 “Bulldozer”
2.5 inch SATA HDD (160 GB) hard drive (in Developer Console, not likely for the retail version)
8GB DDR5 RAM (speed unknown), VRAM {listed below in GPU}
AMD R10xx with 2.2GB of VRAM
2 x 512 KB (1024 KB)
480p, 576p, 720p, 1080i, 1080p
8x Blu-ray BD-ROM (54-128GB of data) at 36MB/s
Blu-ray 8x, DVD, Compact Disc, Download
Compatable with all past PS3 PlayStation Network Purchases (likely)
4x USB 3.0, 2x Ethernet;
Audio Output: HDMI & Optical, 2.0, 5.1 & 7.1 channels
PS Network (Free) + PlayStation Network Plus (paid service) + Gaikai cloud service
N/A
$ 499-$ 1000 USD


Gaming News Headlines – Yahoo! News








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New rules aim to get rid of junk foods in schools


WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.


For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.


Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.


The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.


Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.


"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.


Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.


The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.


The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.


Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.


"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.


Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.


The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.


Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.


Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.


"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.


The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.


A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.


___


Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick


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Taliban Assault in Pakistan Results in Deaths of 35 People





Taliban militants killed at least nine soldiers and four paramilitary troops in an attack on a Pakistani army base in northwestern Pakistan early Saturday, officials said. Ten civilians, including three women and three children who were living in a nearby compound, were also killed.




The brazen assault took place in the restive Khyber-Pakhtunkhwa province and comes just a day after a suicide bombing near a mosque in another northwestern town, Hangu, killed at least 26 people.


A spokesman for Tehrik-e-Taliban Pakistan, commonly known as the Pakistani Taliban, claimed responsibility and said it was to avenge the death of two Taliban commanders who were killed in U.S drone strikes.


According to initial details, Taliban militants, armed with heavy machine guns, fired rockets in the pre-dawn assault at the base in Serai Norang in the Lakki Marwat district, setting off a heavy gun battle that lasted for several hours.


A Pakistani army official, speaking on condition of anonymity, said that 12 militants were killed in the assault.


“Bodies of four terrorists, out of which two were wearing suicide jackets, are in custody of security forces,” the official said.


Eighteen security forces officials were wounded in the attack and were sent for treatment to a military hospital in Peshawar, the provincial capital.


During the attack, one of the suicide bombers entered a house near the camp and detonated his explosives, killing the women and children, the official said.


Pakistani officials described the base as “an isolated camp,” and one of the three bases set up two years ago to wrest Lakki Marwat from the control of Taliban militants.


The ferocity of the attack, which appeared well planned and coordinated, took security officials by surprise, and they speculated that the attackers came from neighboring lawless semi-autonomous tribal regions, where the government has traditionally had little sway.


“We are trying to piece evidence,” a security official said.


Ihsanullah Ihsan, the Taliban spokesman, who said in a telephone interview the attack was in retaliation to the killing of two Taliban commanders, identified one of the commanders as Wali Muhammad, also known as Toofani Mehsud. He was killed in an American drone strike on Jan. 6 in the tribal region of South Waziristan, and was known as a trainer of suicide bombers.


The country’s lawless tribal regions have been a safe haven for local and foreign militants and as a result have been a frequent target of American drone strikes, which are deeply unpopular in the country. Pakistan’s parliament has repeatedly demanded an end to drone strikes, although Pakistani officials privately acknowledge the effectiveness of the such attacks in killing militants.


Salman Masood reported from Islamabad, and Ismail Khan from Peshawar. Ihsanullah Tipu Mehsud contributed reporting from Islamabad.



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BlackBerry doesn’t need to catch up with Android and iOS overnight, it needs to live to fight another day






The biggest criticism of BlackBerry’s (RIMM) revamped mobile operating system and smartphone line so far is that they don’t give iOS or Android users any compelling reasons to switch brands. And this is certainly true — BlackBerry 10, for all its virtues, doesn’t do anything significantly better than the top two mobile operating systems and seems designed mostly to please the faithful and not win new converts. At the same time, I think this sort of criticism is based on somewhat unrealistic expectations for what a revamped BlackBerry would be able to achieve in its first iteration. Put simply, making its own loyal fans happy might have been the best that BlackBerry could do in this particular product cycle.


[More from BGR: GS: Ignore the chatter, BlackBerry rebound is coming]






Before we go further with this line of thinking, we should remind ourselves of the truly dire state that BlackBerry CEO Thorsten Heins found the company in when he took it over just over a year ago.


[More from BGR: Here comes the PlayStation 4: Sony announces February 20th PlayStation event [video]]


Longtime customers were fleeing BlackBerry for iOS and Android after BlackBerry repeatedly shot itself in the foot by releasing devices that featured outdated hardware (the first-generation BlackBerry Torch) or that lacked some of the core capabilities that BlackBerry customers had come to expect (the BlackBerry PlayBook and its lack of native corporate email without a “bridge” connection). The company also got caught completely flat-footed by the rise of mobile apps as a vital component of the global smartphone ecosystem and typically wouldn’t get big-name apps on its platform for more than a year after they’d been out on iOS and Android, if at all.


Let’s also recall that when Heins announced last summer that BlackBerry 10 would be delayed until the first quarter of 2013, many of us wondered if the new operating system would ever be released or if the company would simply collapse under the weight of competitive pressures. That Heins has been able to not only get BlackBerry 10 launched but also get more than 100 carriers on board with the new platform is a pretty impressive feat. Add in that Heins has been able to score commitments from some important apps such as Skype, WhatsApp and Amazon Kindle, and you begin to appreciate just how far BlackBerry has come from almost going over the brink.


Of course, none of this is even close to being enough to make BlackBerry a force in the mobile industry anytime soon. But if ardent BlackBerry fans buy up the new BlackBerry 10 handsets and if the company maintains its corporate clients, it may be enough to let the company live to fight another day.


Benedict Evans, a strategy consultant for Enders Analysis, has done some back-of-the-envelope calculations and estimates BlackBerry could sell as many as 20 million BlackBerry 10 smartphones in 2013, although he admits this number could be overly optimistic by as much as 50%. But even if BlackBerry sells just 15 million BB10 phones this year, that could be enough to give the company some breathing room while it works to recruit more app developers and generally improve its new operating system’s functionality.


This is not to say that BlackBerry has an easy road from here — the odds are still very much against it. But just as Rome wasn’t built in a day, no one should have expected BlackBerry to return to its former glory overnight. As much as BlackBerry fans would love to see their favorite devices rise up and crush iOS and Android, that sort of comeback was never in the cards. The best BlackBerry can hope is that they’ve stopped the bleeding and can continue building from here.


This article was originally published on BGR.com


Gadgets News Headlines – Yahoo! News




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Jenna Miscavige Hill Pens Revealing Scientology Book















02/01/2013 at 08:00 PM EST







Jenna Miscavige and her uncle David inset


Michael Murphree; Inset: Polaris


What was it like to grow up inside Sea Org, the Church of Scientology's most elite body?

In her memoir Beyond Belief, excerpted exclusively below, Jenna Miscavige Hill describes her experiences at the Ranch, a San Jacinto, Calif., boarding school for children of Scientology execs. The niece of church head David Miscavige, she was raised away from her parents, then worked within Sea Org until leaving Scientology in 2005.

Now living near San Diego, married to Dallas Hill and mom to their children Archie, 3, and Winnie, 10 months, she's telling her story, she says, to increase awareness about Scientology: "I realize every day how lucky I am to have gotten out." (When asked to comment on the book's portrayal of its members, the church stated they had not read the book but that "any allegations of neglect are blatantly false.")

Jenna's parents, Ron and Blythe Miscavige, high-ranking members of Sea Org, sent both Jenna and her older brother Justin to the Ranch. There, at age 7, in accordance with Scientologists' belief that they are "Thetans," or immortal spirits, Jenna signed a billion-year contract.

I tried to write my name in my best cursive, the way I'd been learning. I had goose bumps. Just like that, I committed my soul to a billion years of servitude to the Church of Scientology.

Sea Org was run like the Navy: Members wore uniforms and managed all aspects of the church. Married members couldn't have kids; those who already did sent them to be raised communally.

A Sea Org member was required to be on duty for at least 14 hours a day, seven days a week, with a break for an hour of 'family time.' I was too young to understand that seeing your parents only one hour a day was highly unusual.

Read More..

New rules aim to get rid of junk foods in schools


WASHINGTON (AP) — Most candy, high-calorie drinks and greasy meals could soon be on a food blacklist in the nation's schools.


For the first time, the government is proposing broad new standards to make sure all foods sold in schools are more healthful.


Under the new rules the Agriculture Department proposed Friday, foods like fatty chips, snack cakes, nachos and mozzarella sticks would be taken out of lunch lines and vending machines. In their place would be foods like baked chips, trail mix, diet sodas, lower-calorie sports drinks and low-fat hamburgers.


The rules, required under a child nutrition law passed by Congress in 2010, are part of the government's effort to combat childhood obesity. While many schools already have improved their lunch menus and vending machine choices, others still are selling high-fat, high-calorie foods.


Under the proposal, the Agriculture Department would set fat, calorie, sugar and sodium limits on almost all foods sold in schools. Current standards already regulate the nutritional content of school breakfasts and lunches that are subsidized by the federal government, but most lunchrooms also have "a la carte" lines that sell other foods. Food sold through vending machines and in other ways outside the lunchroom has never before been federally regulated.


"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should be supported when kids walk through the schoolhouse door," Agriculture Secretary Tom Vilsack said.


Most snacks sold in school would have to have less than 200 calories. Elementary and middle schools could sell only water, low-fat milk or 100 percent fruit or vegetable juice. High schools could sell some sports drinks, diet sodas and iced teas, but the calories would be limited. Drinks would be limited to 12-ounce portions in middle schools and to 8-ounce portions in elementary schools.


The standards will cover vending machines, the "a la carte" lunch lines, snack bars and any other foods regularly sold around school. They would not apply to in-school fundraisers or bake sales, though states have the power to regulate them. The new guidelines also would not apply to after-school concessions at school games or theater events, goodies brought from home for classroom celebrations, or anything students bring for their own personal consumption.


The new rules are the latest in a long list of changes designed to make foods served in schools more healthful and accessible. Nutritional guidelines for the subsidized lunches were revised last year and put in place last fall. The 2010 child nutrition law also provided more money for schools to serve free and reduced-cost lunches and required more meals to be served to hungry kids.


Sen. Tom Harkin, D-Iowa, has been working for two decades to take junk foods out of schools. He calls the availability of unhealthful foods around campus a "loophole" that undermines the taxpayer money that helps pay for the healthier subsidized lunches.


"USDA's proposed nutrition standards are a critical step in closing that loophole and in ensuring that our schools are places that nurture not just the minds of American children but their bodies as well," Harkin said.


Last year's rules faced criticism from some conservatives, including some Republicans in Congress, who said the government shouldn't be telling kids what to eat. Mindful of that backlash, the Agriculture Department exempted in-school fundraisers from federal regulation and proposed different options for some parts of the rule, including the calorie limits for drinks in high schools, which would be limited to either 60 calories or 75 calories in a 12-ounce portion.


The department also has shown a willingness to work with schools to resolve complaints that some new requirements are hard to meet. Last year, for example, the government relaxed some limits on meats and grains in subsidized lunches after school nutritionists said they weren't working.


Schools, the food industry, interest groups and other critics or supporters of the new proposal will have 60 days to comment and suggest changes. A final rule could be in place as soon as the 2014 school year.


Margo Wootan, a nutrition lobbyist for the Center for Science in the Public Interest, said surveys by her organization show that most parents want changes in the lunchroom.


"Parents aren't going to have to worry that kids are using their lunch money to buy candy bars and a Gatorade instead of a healthy school lunch," she said.


The food industry has been onboard with many of the changes, and several companies worked with Congress on the child nutrition law two years ago. Major beverage companies have already agreed to take the most caloric sodas out of schools. But those same companies, including Coca-Cola and PepsiCo, also sell many of the non-soda options, like sports drinks, and have lobbied to keep them in vending machines.


A spokeswoman for the American Beverage Association, which represents the soda companies, says they already have greatly reduced the number of calories that kids are consuming at school by pulling out the high-calorie sodas.


___


Follow Mary Clare Jalonick on Twitter at http://twitter.com/mcjalonick


Read More..

"Great Rotation"- A Wall Street fairy tale?

NEW YORK (Reuters) - Wall Street's current jubilant narrative is that a rush into stocks by small investors has sparked a "great rotation" out of bonds and into equities that will power the bull market to new heights.


That sounds good, but there's a snag: The evidence for this is a few weeks of bullish fund flows that are hardly unusual for January.


Late-stage bull markets are typically marked by an influx of small investors coming late to the party - such as when your waiter starts giving you stock tips. For that to happen you need a good story. The "great rotation," with its monumental tone, is the perfect narrative to make you feel like you're missing out.


Even if something approaching a "great rotation" has begun, it is not necessarily bullish for markets. Those who think they are coming early to the party may actually be arriving late.


Investors pumped $20.7 billion into stocks in the first four weeks of the year, the strongest four-week run since April 2000, according to Lipper. But that pales in comparison with the $410 billion yanked from those funds since the start of 2008.


"I'm not sure you want to take a couple of weeks and extrapolate it into whatever trend you want," said Tobias Levkovich, chief U.S. equity strategist at Citigroup. "We have had instances where equity flows have picked up in the last two, three, four years when markets have picked up. They've generally not been signals of a continuation of that trend."


The S&P 500 rose 5 percent in January, its best month since October 2011 and its best January since 1997, driving speculation that retail investors were flooding back into the stock market.


Heading into another busy week of earnings, the equity market is knocking on the door of all-time highs due to positive sentiment in stocks, and that can't be ignored entirely. The Standard & Poor's 500 Index <.spx> ended the week about 4 percent from an all-time high touched in October 2007.


Next week will bring results from insurers Allstate and The Hartford , as well as from Walt Disney , Coca-Cola Enterprises and Visa .


But a comparison of flows in January, a seasonal strong month for the stock market, shows that this January, while strong, is not that unusual. In January 2011 investors moved $23.9 billion into stock funds and $28.6 billion in 2006, but neither foreshadowed massive inflows the rest of that year. Furthermore, in 2006 the market gained more than 13 percent while in 2011 it was flat.


Strong inflows in January can happen for a number of reasons. There were a lot of special dividends issued in December that need reinvesting, and some of the funds raised in December tax-selling also find their way back into the market.


During the height of the tech bubble in 2000, when retail investors were really embracing stocks, a staggering $42.7 billion flowed into equities in January of that year, double the amount that flowed in this January. That didn't end well, as stocks peaked in March of that year before dropping over the next two-plus years.


MOM AND POP STILL WARY


Arguing against a 'great rotation' is not necessarily a bearish argument against stocks. The stock market has done well since the crisis. Despite the huge outflows, the S&P 500 has risen more than 120 percent since March 2009 on a slowly improving economy and corporate earnings.


This earnings season, a majority of S&P 500 companies are beating earnings forecast. That's also the case for revenue, which is a departure from the previous two reporting periods where less than 50 percent of companies beat revenue expectations, according to Thomson Reuters data.


Meanwhile, those on the front lines say mom and pop investors are still wary of equities after the financial crisis.


"A lot of people I talk to are very reluctant to make an emotional commitment to the stock market and regardless of income activity in January, I think that's still the case," said David Joy, chief market strategist at Columbia Management Advisors in Boston, where he helps oversee $571 billion.


Joy, speaking from a conference in Phoenix, says most of the people asking him about the "great rotation" are fund management industry insiders who are interested in the extra business a flood of stock investors would bring.


He also pointed out that flows into bond funds were positive in the month of January, hardly an indication of a rotation.


Citi's Levkovich also argues that bond investors are unlikely to give up a 30-year rally in bonds so quickly. He said stocks only began to see consistent outflows 26 months after the tech bubble burst in March 2000. By that reading it could be another year before a serious rotation begins.


On top of that, substantial flows continue to make their way into bonds, even if it isn't low-yielding government debt. January 2013 was the second best January on record for the issuance of U.S. high-grade debt, with $111.725 billion issued during the month, according to International Finance Review.


Bill Gross, who runs the $285 billion Pimco Total Return Fund, the world's largest bond fund, commented on Twitter on Thursday that "January flows at Pimco show few signs of bond/stock rotation," adding that cash and money markets may be the source of inflows into stocks.


Indeed, the evidence suggests some of the money that went into stock funds in January came from money markets after a period in December when investors, worried about the budget uncertainty in Washington, started parking money in late 2012.


Data from iMoneyNet shows investors placed $123 billion in money market funds in the last two months of the year. In two weeks in January investors withdrew $31.45 billion of that, the most since March 2012. But later in the month money actually started flowing back.


(Additional reporting by Caroline Valetkevitch; Editing by Kenneth Barry)



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Fireworks Truck Explodes on Bridge in Deadly Blast


Reuters


A section of a bridge that partially collapsed after a truck carrying fireworks exploded in Henan Province on Friday.







HONG KONG - A truck laden with fireworks exploded on a bridge in central China on Friday, unleashing a blast that threw vehicles some 30 yards to the ground below and killed at least six people.




The truck was on an expressway near Sanmenxia in Henan Province in morning fog when it exploded, wiping out a length of the Yichang Bridge, according to the Xinhua news agency.


One initial news report said at least 26 people were killed, but officials on the scene later dismissed that number as too high, according to Xinhua, which said about 15 people were also injured.


The widespread use off fireworks is a tradition of China’s traditional Spring Festival celebrations that begin on Feb. 9, and the explosion was a reminder of the intense pressures brought by the crush of people and goods on the move before the vacation period starts.


Pictures on Chinese television and news websites showed rescuers clamoring over shattered remains of trucks that plunged to earth, with part of one truck hanging off the severed section of the bridge. Reports from the scene said that from 10 to 25 vehicles fell off the bridge, and rescuers were searching for survivors amid the jumble of wreckage.


“A number of vehicles were crushed under the fallen bridge section, adding to the difficulties of the rescuers,” said a report on China Central Television.


Most reports said the explosion triggered the bridge collapse, and pictures showed charred debris along the expressway. But Central Chinese Television news said investigators were considering the possibility that a bridge collapse triggered the explosion.


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