Lino Oviedo, Candidate in Paraguay, Dies in Crash





RIO DE JANEIRO — Lino Oviedo, a candidate in Paraguay’s presidential elections and one of the country’s most polarizing political figures, was killed in a helicopter crash on Saturday night while returning from a political rally in northern Paraguay, government officials said Sunday.




The fiery crash, which killed Mr. Oviedo, 69, an aide and the pilot of the helicopter, opens a new phase of uncertainty in Paraguay, one of Latin America’s most politically unstable countries. After authorities confirmed his death and called it an accident, officials in his party, the National Union of Ethical Citizens, immediately questioned whether Mr. Oviedo had been assassinated.


The death of Mr. Oviedo, a retired general who had led Paraguay’s army, brought an end to a tumultuous political career.


He initially gained prominence in 1989, when he helped topple Gen. Alfredo Stroessner, the dictator who ruled Paraguay for 35 years.


Mr. Oviedo fled the country in 1996, seeking exile first in Argentina then in Brazil, after being charged of organizing an aborted coup attempt against Juan Carlos Wasmosy, then Paraguay’s president.


The authorities also indicted Mr. Oviedo on charges of masterminding the assassination of Luis María Argaña, the vice president who was killed by gunmen outside Asunción in March 1999. But after Mr. Oviedo returned to Paraguay in 2004 and served time in prison in connection to the coup-plotting conviction, Paraguay’s Supreme Court absolved him of the various charges.


He then took up a hard-charging political career, campaigning as a populist who nimbly used Guaraní, Paraguay’s widely-spoken indigenous language, in his speeches. He became known as the “bonsai horseman,” in a nod to his short stature, and came in third in the country’s last presidential vote, in 2008.


Paraguay was officially commemorating Stroessner’s overthrow on Sunday, making the timing of the helicopter crash questionable for some of Mr. Oviedo’s political supporters. Paraguayan aviation authorities, while claiming that the helicopter went down in an area of northern Paraguay with stormy weather on Saturday night, said they would investigate the causes of the crash.


“Twenty-four years ago today General Oviedo overthrew the dictatorship,” César Durand, a spokesman for Mr. Oviedo’s party, told Radio Ñanduti. “This is a message from the mafia,” he said, employing a blanket term often used by Paraguayans to refer to shadowy organizations involved in drug trafficking and the contraband of pirated goods into neighboring Brazil.


Mr. Oviedo’s chances of winning Paraguay’s presidential election, scheduled for April, appeared to be slim, political analysts said. According to recent polls, support for Mr. Oviedo remained in the single digits, placing him far behind the front-runner in the race, Horacio Cartes, a banking and tobacco magnate.


The election comes after a stretch of political turmoil in Paraguay in which Paraguay’s Senate hastily ousted the president, Fernando Lugo, from office in June. Mr. Lugo, a former Roman Catholic bishop, had ended six decades of one-party rule when he was elected, but faced fierce opposition from lawmakers to his attempts to reduce Paraguay’s disparity in landholdings.


If Mr. Cartes, 56, holds his lead, the presidency will return to the Colorado Party which long dominated Paraguay. Still, his campaign is facing questions over his business dealings. State Department diplomatic cables obtained by WikiLeaks revealed claims in 2007 that a bank under Mr. Cartes’s control was involved in a great deal of Paraguay’s money-laundering activities.


Mr. Cartes has rejected the money-laundering claims, calling them “laughable rubbish.”


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Innovative Ways the Autism Community Uses iPads






The iPad has proven to be an especially useful communication tool for young people with autism. It provides a way to express themselves through words and images; it can be used to teach them about everyday scenarios and give them more independence. It’s also far less bulky than some communication devices of the past.


Autism Spectrum Disorders are developmental disabilities that affect about one in every 88 children, and one in 54 boys.






[More from Mashable: 10 Essential Tools for the Lean Web Developer]


Jonathan Izak‘s 12-year-old autistic brother inspired him to develop the AutisMate app for iPad. His brother, Oriel, is mostly nonverbal and used to struggle to communicate, sometimes throwing tantrums when he was unable to get his point across, Izak tells Mashable.


At 7 years old, Oriel had to wear a heavy communication device around his neck, which further set him apart from other children at school. Now, Oriel carries an iPad and uses the app his brother developed to communicate and learn new behaviors like how to act in specific social situations.


[More from Mashable: Tablet Shipments Hit Record Levels While Apple’s Market Share Declines]


With AutisMate, parents or caretakers take and upload photos of their child’s bedroom, the kitchen, his or her school to the app. When the app launches, the iPad’s GPS will know where the user is and allows them to tap pictures of their surrounding environment. The child can tap the refrigerator, for instance, to express that he or she is hungry.


Izak says these visual tools for communication don’t become a permanent crutch but rather promote speech and communication.


It’s not uncommon for children with autism to be nonverbal and need the iPad to communicate. AutismSpeaks.org says it’s estimated that 25% of people with autism are completely nonverbal.


Izak explains that, for someone with autism, the unknowns in life can be scary, so to prepare that person for the world, apps like AutisMate show scenes of how to do everyday things like go to a restaurant or the doctor’s office.


Parents, caretakers and doctors know early intervention with autism is a key factor to increasing their child’s likelihood of communicating, which is probably why most autism apps focus on children. iPad apps to help children with autism develop their communication skills are part of a rapidly growing market and have proved to be effective tools. Check out some of the apps we found and others recommended to us. Let us know if you know of any other useful apps for people with autism.


Click here to view the gallery: Autism Apps


Photo courtesy of iStockphoto, UrsaHoogle


This story originally published on Mashable here.


Gadgets News Headlines – Yahoo! News





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The Duchess of Cambridge Reveals Royal Baby Bump









02/03/2013 at 01:20 PM EST



Royal baby-watchers, rejoice: Here's comes the bump!

Although she was wearing an oversize, tartan-print cape, Kate stepped out on Wednesday in West London revealing a new curve – and we're not just talking about her smile!

With her hair back in a ponytail, the Duchess of Cambridge, 30, pulled her look together with a black scarf, black leggings and riding boots.

The mother-to-be was also recently spotted in London's Chelsea neighborhood shopping for jeggings at the Gap.

The public outings show that Kate's health is on the upswing after being hospitalized with severe morning sickness in the early days of her pregnancy.

The baby is due in July.

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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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"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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The Lede Blog: New Photographs Stir Doubts About Bashar's Baby and Iran's Space Monkey

Last Updated, Saturday, 12:37 p.m. Bad news, readers: new images appear to cast doubt on the accuracy of two of the week’s most widely-reported stories — the rumored pregnancy of Syria’s first lady, and the pioneering space flight of an Iranian monkey.

As the Washington Post correspondent Liz Sly reported, President Bashar al-Assad’s office posted five new photographs of his wife, Asma, on Facebook, as part of an effort to disprove a curious aside in a Lebanese newspaper report that she is pregnant. In each of the photographs, said to have been taken last week in Damascus, a very slender Mrs. Assad was pictured congratulating the winners of this year’s Syrian Science Olympiad.

As my colleague Rick Gladstone explained, “rumors that Mrs. Assad had conceived in June,” were first reported in November by Al Bawaba, an Amman-based news Web site. Since the British-born first lady has been out of public view for most of the past year, as her husband’s government struggled to regain control of the country, the rumors about her spread despite an absence of visual confirmation.

The photographs were released a day after Mr. Assad’s office issued an indignant statement taking exception to a Washington Post blogger’s reading of the Lebanese newspaper’s story. The statement said the blogger, Max Fisher, “based his analysis on false allegations that led him to wrong results which are far from reality.”

Since Syria’s Science Olympiad takes place every year, the president’s office could have recycled images of the first lady that were taken a year or more earlier, but that would require the cooperation of all of the students pictured with her in the photographs. At least one of the students pictured with Mrs. Assad in the new photographs, a girl with curly hair wearing brightly-patterned sneakers, does appear in another image of the winners posted on the Olympiad’s Facebook page.

While this set of images appears to back the official story coming out of Damascus, recently released photographs and video of the monkey that Iran says it sent into space seem to undermine Tehran’s claims.

Video broadcast on Iranian television this week showed what officials said were images of a monkey before and after a space flight.

As journalists at the German state broadcaster Deutsche Welle pointed out on its Persian language site on Thursday, the first reports on the space mission published in Iran’s state-run media showed an anxious-looking monkey prepared for blast-off with a prominent mole above his right eye.

When Iran got around to releasing photographs and video of the monkey’s capsule being retrieved post-flight, there was no trace of a mole on his brow in the close-ups of him waiving to reporters or smiling for the cameras at a subsequent public appearance.

That led to speculation that Iran might have attempted to cover up a failed space mission by displaying a different monkey than the one that actually made a 150-mile round trip into the thermosphere and back. Or that the newly famous monkey had fallen prey to the Iranian penchant for cosmetic surgery.

The missing mole is not exactly hard evidence that Iranians had a spare monkey waiting in the wings to pretend he’d just got back from space, but Iran does have a track record of fictionalizing its achievements in the field of rocket-science. Last July, however, the Iranian Students’ News Agency — which released photographs of the monkey with and without the mole this week — did report that the space agency in Tehran had five monkeys in training for the mission.

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Dina Manzo Split from Her Husband - in October















02/02/2013 at 01:20 PM EST



Dina Manzo is splitting from her husband of seven years, Tommy Manzo, she confirmed Saturday.

"My secret ... I have been separated since October," the reality star, who appeared on Bravo's Real Housewives of New Jersey before moving on to her own show, Dina's Party on HGTV, Tweeted. "My heart hurts but Tommy and I will always share a very special love."

Dina, 41, and her sister Caroline, who also appeared on the show, were married to brothers Tommy and Albert Manzo, owners of N.J.'s Brownstone event hall. Dina's million-dollar wedding was documented for VH1's My Big Fat Fabulous Wedding, but Tommy never appeared on Housewives, and Dina has alluded to her husband's aversion to the media.

On Twitter, Dina thanked friends for their support. "I'm so grateful for the support of my loved ones during this time, especially my spiritual friends. You know who you are. And of course, my biggest supporter Lexi (her daughter from a previous marriage). Tommy adores her and they will remain close."

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)



Read More..

Suicide Bomber Attacks Market in Pakistan


Abdul Basit/Associated Press


People gathered at the scene of the explosion in a market in northwestern Pakistan on Friday.







PESHAWAR, Pakistan — An explosion in a market in northwestern Pakistan on Friday killed at least 21 people and wounded 33 in what police described as a suicide bombing.




The Pakistani Taliban claimed responsibility for the attack in Hangu, about 70 miles west of Peshawar, the capital of Khyber-Pakhtunkhwa Province. Abu Omar, a Taliban commander in the neighboring tribal region of North Waziristan, said in a telephone interview that the attack was in revenge for the killing on Thursday of a Sunni cleric.


The cleric, Mufti Abdul Majeed Deenpuri, 60, was shot in the southern port city of Karachi, setting off fears of reprisals against Shiites.


Mr. Deenpuri was a senior teacher at Jamia Binoria, one of the largest seminaries in Pakistan. A gunman opened fire on a vehicle carrying the cleric and a colleague at a busy intersection and then fled.


While the security situation is precarious across Pakistan, Rehman Malik, the interior minister, had warned of the potential for an attack in Karachi, a sprawling, violence-prone port city. Cellphone service was suspended there from noon to 3 p.m. during Friday Prayer.


Sectarian violence has also occurred in Hangu in the past, often forcing the authorities to impose a curfew. The town borders the Orakzai tribal region, where the army and paramilitary forces are fighting Taliban militants.


Friday’s explosion occurred just after Friday Prayer as worshipers filed out of nearby Sunni and Shiite mosques, police officials said. “People were coming out of the mosque when the explosion occurred,” said one officer in Hangu, speaking on the condition of anonymity.


Another police official in Hangu said a suicide bomber had detonated his explosives. While Shiites were the likely target, the dead included people from both Islamic sects, he said.


Separately, a Pakistani intelligence official, speaking on the condition of anonymity, said 30 mortar shells fired from Afghanistan on Friday morning killed six residents of Angoor Adda, a border village in South Waziristan. However, there was no official comment from the Pakistani military, and a local government official gave a conflicting number of casualties, saying three people were killed and six wounded.


In recent years, Pakistan and Afghanistan have traded barbs over allegations of cross border rocket and artillery fire. The 1,510 mile long craggy border between the two countries has long posed a problem for both sides, each accusing the other of not manning the border effectively. Both sides maintain that insurgents easily cross over the porous border, but plans to fence the border have been shot down as impractical.


On Thursday, Human Rights Watch released its World Report 2013, which sharply criticized the Pakistani government and its military and intelligence agencies for failing to reduce human rights abuses.


“Pakistan’s human rights crisis worsened markedly in 2012 with religious minorities bearing the brunt of killings and repression,” said Ali Dayan Hasan, the director in Pakistan for Human Rights Watch. “While the military continued to perpetrate abuses with impunity in Baluchistan and beyond, Sunni extremists killed hundreds of Shia Muslims and the Taliban attacked schools, students, and teachers.”


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



This article has been revised to reflect the following correction:

Correction: February 1, 2013

Because of an editing error, an earlier version of this article misidentified the capital of Khyber-Pakhtunkhwa Province. It is Peshawar, not Hangu.

This article has been revised to reflect the following correction:

Correction: February 1, 2013

An earlier headline with this article misstated the location of the suicide attack. It was in a market, not a mosque.



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