IHT Rendezvous: Doctors to Prescribe Self-Help Books, Poetry for Mental Health Ills

LONDON — Doctors in England will soon be prescribing books as well as pills to patients suffering from anxiety and depression.

In a government-endorsed initiative supported by medical associations and librarians, physicians will be sending patients to their local libraries for a range of approved self-help titles targeted at those suffering from mild to moderate mental health problems.

Patients are also being encouraged to turn to what The Bookseller magazine described as “uplifting novels and poetry.”

Extolling the potentially curative powers of literature, the Reading Agency charity quoted research that showed reading reduced stress levels by 67 percent.

The charity, which is a partner in the new Books on Prescription program announced this week, quoted the New England Journal of Medicine as saying reading also cut the risk of dementia by more than a third.

The list of 30 approved self-help titles available on prescription from May includes page-turners like “The Feeling Good Handbook,” “How to Stop Worrying” and “Overcoming Anger and Irritability.”

“There’s growing evidence that shows that self-help reading can help people with certain mental health issues get better,” Miranda McKearney, the Reading Agency’s director said.

The sick often rely on the Internet to search for advice on symptoms and cures that can turn out to be unreliable. Doctors will now be able to write a prescription that gives patients immediate membership to their local library and access to recommended titles.

It is the first so-called bibliotherapy initiative to have received such high-level official backing from health authorities and librarians.

Campaigners for public libraries have applauded the program but worry that not enough is being done to protect the libraries themselves. Last year, 200 libraries were closed and another 300 are reportedly facing closure or being handed over to volunteers this year.

The Reading Agency meanwhile has come up with a core list of Mood-boosting Books designed to promote feeling good.

It includes proven classics such as “The Secret Garden,” by Frances Hodgson Burnett, but also upbeat titles from the likes of Bill Bryson, the best-selling U.S. humorist.

Development of the book prescription idea was paid for by the Arts Council England, which distributes public money to arts projects.

The Reading Agency has applied for funding from the government, which it says spends £14 billion, or $22 billion, a year treating mental health.

So, should sufferers of depression or panic attacks be advised to curl up with a good book? Or is this just a new health fad to find an alternative to costly medication and therapy.

The Reading Project is soliciting suggestions for stress-relieving books at the Twitter hashtag #moodboosting.

If you think there might be something in it, send us your own suggestions for therapeutic reading. And, while you’re at it, let us know any titles that are best avoided when we’re feeling low.

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Can a Robot Clean Your Windows Better Than You Can?

Home robots like the Roomba and the Neato have legions of fans, myself included. They truly make vacuuming a snap. So could a window-washing robot that costs $ 300 do the same – and is it worth the money? The Winbot is coming to market this spring; to find out if it’s worth your hard-earned dollars, I test it out.

How It Works
The Winbot uses suction (in fact, it sounds like a powerful vacuum) to hold itself onto your windows. You plug it in and give it a base charge, but in addition, you run it plugged in to a socket. The internal battery is only there in case the power goes out – so it won’t lose suction while an alarm alerts you to the power outage.

There is a cleaning pad on the front, a squeegee in the center, and a drying pad on the back. You spray cleaning fluid on the front pad; they provide their own brand and strongly advise it over traditional cleaning fluids, which may have ammonia and which they say could damage the Winbot. Once the pads are dirty, you remove them (they affix with Velcro) and toss them in the washing machine.

The Winbot glides along the window, and when it bumps the frame, it turns itself around and edges up the window to eventually go back in the other direction, systematically cleaning in a series of horizontal lines. The higher end model also works on frameless surfaces like mirrors.

[Related: Stupid or Genius: Ten Craziest New Gadgets]

But How Well Does It Clean?
The Winbot did a good job cleaning the inside of my living room windows. It easily handled my kids fingerprints, spots, and general dirt. Outside it did an equally good job, but I did notice later that on a 5’ X 6’ window, it left two horizontal streaks the width of the window. The company says we probably had too much cleaning solution on the pad. They also suggested using the remote control to go back over any streaks and manually clear them. Overall, my hard-to-reach windows were cleaner than they’ve been in years.

For really serious dirty build-up on exterior windows, the company suggests giving a preliminary spray down or wash with a rag, letting it dry and then using the Winbot; the small pads can only handle so much dirt.

Is It Worth the Money?
$ 300 gets you the base model (which we tested), and $ 400 gets one that also works on frameless windows and mirrors, and has an extra extension cord for high windows.

For ordinary interior window washing, I’m not sold. It isn’t like a robotic vacuum cleaner where you set it and forget it. You have to spray the pads, place the device on each window, and then detach it to move it to the next window. You have to wash the pads and sometimes follow behind it to get rid of a streak here or there. But for really big and hard-to-reach windows, the Winbot made a lot of sense. It did a better job than I would have done on a ladder. And if I regularly had to pay someone to reach those high windows, the Winbot would pay for itself very quickly.

[Related: Worst Ways to Clean Your TV]

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A Visual Guide to the Right and (Oh, So) Wrong Way to Bare Your Midriff

Stylewatch
Style News Now

02/01/2013 at 06:00 PM ET

FilmMagic; Getty; Startraks

What made its way on our fashion radar this week? A classic pattern that’s making a strong comeback and a sweater style we haven’t worn since middle school. We expect to see more of these looks at all the various awards season parties and events. What we hope we don’t spot: A certain frock that reveals way too much skin.

Up: Polka Dots. The retro print made a major comeback this week. Emmy Rossum stepped out in a navy-and-white Stop Staring number (it’s just $170!) and Amy Adams slipped into an elegant black-and-white peplum Jenny Packham design.

Up: Cropped Sweaters. We prayed this moment wouldn’t happen but it looks like ab-baring tops are back and celebs like Dakota Fanning, Amanda Seyfried and Jessica Biel are wearing them with everything from skirts to skinnies. If you don’t have a six-pack, pair a shrunken sweater with a high-waisted bottom or layer over a longer shirt like Biel did. 

Down: X-Rated Slits. Actresses take note: Slits that show this much skin are best left for the legs. And that’s why we don’t expect to see stars sporting awkward cleavage slashes like Adrienne Bailon’s anytime soon. (Not to mention party dresses with clunky booties!)

For more on up-and-coming trends, check out our thoughts on furry accents, slits and red accessories.

Tell us: What types of trends are you hoping to see more of on the red carpet? Vote in our poll below! 

–Jennifer Cress

PHOTOS: SEE OUR FAVORITE DRESSES OF AWARDS SEASON — SO FAR!

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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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India Ink: Five Accused in New Delhi Gang Rape Case Plead Not Guilty

The five men accused in a brutal  gang rape that led to nationwide protests entered not guilty pleas on Saturday to the 13 charges filed against them.

The charges  —  including gang rape, murder, kidnapping and conspiracy  —  stem from the Dec. 16 rape of a 23-year-old physiotherapy student who later died from her injuries. Reports of the attack led to days of protests in India over the treatment of women.

A trial for the five suspects  —  Ram Singh, Mukesh Singh, Pawan Gupta, Vinay Sharma and Akshay Thakur  — is scheduled to begin Tuesday in Saket District Court Complex in New Delhi.

V.K. Anand, defense counsel for the brothers Ram Singh and Mukesh Singh, said in a telephone interview that “All the five accused have pleaded not guilty.”

“The charges being framed is one thing,” Mr. Anand said,  “but proving the charges is another.”

Pretrial arguments for the five suspects were completed on Wednesday. On Monday, the sixth suspect was declared officially a juvenile by the Indian Juvenile Justice Board, meaning the maximum sentence he could receive is three years in a detention facility.

If they are convicted, the five on trial could face the death penalty. The Supreme Court dismissed a plea to transfer the New Delhi gang rape trial outside the city on Tuesday. The trial, which is being carefully watched by the country, has brought about renewed debate on the challenges facing the Indian legal system.

According to the local news channel IBN Live, 86 witnesses will appear at the trial.

Pamposh Raina contributed to this post.

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Sony Teases ‘The Future’ of PlayStation in Short #PlayStation2013 Video

Sony‘s CEO, Kazuo Hirai, said he would let Microsoft “make the first move” when it came to releasing a next-generation game console, according to IGN’s Daniel Krupa. But now the official PlayStation blog is teasing viewers with a video entitled “See the Future,” with the #PlayStation2013 Twitter hashtag.

Whatever the future is, it’s apparently got something to do with Feb. 20, the date mentioned in the video. But when it gets here, what will it be like?

PlayStation2013 probably isn’t the actual name

Previous rumors have suggested the next PlayStation console won’t be called the PlayStation 4, because the number 4 is associated with death in Japanese culture. If Sony’s willing to break with its numbering scheme because of tradition, it may be unlikely to tag the actual new PlayStation console itself with the number 13, which is regarded as unlucky in the United States.

Much more powerful hardware

This one’s a given. Unlike in the PC and tablet gaming world, where hardware is regularly updated and improvements tend to be incremental, video game consoles tend to wait years to update before leaping ahead — if you don’t count the two smaller redesigns the PS3 has had over the years while keeping the same performance, anyway, or the introduction of the PlayStation Move controller.

The PlayStation 3‘s big performance draw was its ability to play games on an HDTV, with an upgrade to graphics realism to match. A report by Kotaku’s Luke Plunkett last year suggests that the new PlayStation console may be able to play 3D games (on a 3D HDTV, that is) in 1080p resolution, or regular games in 4096×2160. The latter would basically require a TV as sharp as Apple’s Retina Display.

Far fewer games?

The same report, however, suggests that — as Sony eventually did with the PlayStation 3 — the “PlayStation 4″ may not be able to play any games from the previous generation of consoles.

The PlayStation 3 debuted with the ability to run PlayStation 2 games, but this required it to have both of the PS2′s processor chips inside it. This console-within-a-console design helped push the PS3′s launch price up to $ 599, and Sony soon dropped one of the chips before abandoning them completely. Today’s PlayStation 3 consoles can only play the handful of PS2 games that have been re-released digitally (and are bought separately) on the PlayStation Network.

No place like Home

If the new PlayStation console can’t run PS3 games, that may mean the end of PlayStation Home, Sony’s virtual world and social gaming platform in the style of Second Life (but with Facebook-style games). IGN’s Andrew Goldfarb notes that Sony recently filed a trademark on “BigFest,” however, which it describes as an “online player networking” service in similar terms as PlayStation Home.

Jared Spurbeck is an open-source software enthusiast, who uses an Android phone and an Ubuntu laptop PC. He has been writing about technology and electronics since 2008.

Linux/Open Source 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

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 Mosque 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 a Sunni mosque and a nearby Shiite place of worship, 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. “There are Sunnis and Shias killed.”

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. 

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.

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