Pension Spending Shows Big Impact on Economy: NIRS Report
In 2014, retiree spending of pension benefits generated $1.2 trillion in total economic output, supporting 7.1 million jobs, according to the report.
Betterment Renames, Restructures Its Advisor Platform
Betterment Institutional becomes Betterment for Advisors and will offer ETFs from Vanguard and ETFs from Goldman Sachs.
Has the Bond Market Peaked?
The broad strengthening this year in the bond market “doesn’t normally happen,” and the market will “recalibrate” at some point, Schwab’s Kathy Jones said.
Bill to Replace Dodd-Frank Passes House Panel
Democrats charge that Rep. Jeb Hensarling’s Financial CHOICE Act would hurt investors by dismantling the CFPB.
Global Investors Hike Cash Levels in September: BofA Merrill Lynch
Forty-two percent of global investors said high cash levels were a “bearish view on markets.”
Saudi Arabia Ousts U.S. as Biggest Oil Producer, IEA Says
U.S. output in August stood at 12.2 million barrels a day while Saudi Arabian production climbed to 12.58 million barrels a day the same month.
JPMorgan’s Dimon Says It’s Time for Fed to Raise Interest Rates
JPMorgan Chase's chairman and CEO said a "return to normal is a good thing" in his call for a rise in interest rates.
Berkshire Accused of ‘Siphoning’ Funds in Workers’ Comp Suit
A New York bicycle courier company has accused Berkshire’s Applied Underwriters of running a “reverse Ponzi scheme.”
Emerging Markets Are Definitely Reemerging, Experts Say
This year’s rally in emerging stock markets likely points to an even better 2017, said Edward Kerschner of Columbia Threadneedle.
Goldman and Citigroup Divided on Whether Bond Rout Will Persist
Garzarelli of Goldman sees Treasury yields at 2% by early 2017; Aviva, Aberdeen join Citigroup in seeing no extended losses.