Economy & Markets
The important economic and stock market news that advisors need to know.
Birinyi Bullish, Sees S&P at 1,700
By John SullivanLaszlo Birinyi called the market bottom in March 2009 and he still likes what he sees three years on. Despite the stock markets largest decline this year earlier in the week, hes bullish on U.S. equities.
March 07, 2012
300% Hike in Dividend Tax Will Starve Economic Engine, AEI Scholars SayTwo scholars at AEI say Washington is about to tax, and thereby make more scarce, the fuel that drives investment in the economy. The sharp tax spike well likely also depress stock market performance.
March 07, 2012
Libor Links Deleted From Banking Group's SiteThe British Bankers Association, apparently distancing itself from controversy, has deleted links from its website that refer to its role in setting the London interbank rate as investigations over charges of rate manipulation swirl across the globe.
March 07, 2012
Big Banks Join Greek Debt SwapBy Thursday Greece must win over the rest of the participants to exchange new bonds for old, or it will invoke collective action clauses to compel additional bondholders to participate. The target is to reduce the countrys privately held debt of 206 billion euros ($270 billion) by 53.5%.
March 07, 2012
China: U.S. Trade Bill Violates LawA bill targeting Chinese imports that is waiting for President Barack Obama's signature violates international law, according to the Chinese commerce minister.
March 06, 2012
Debate of the Century (The Hip-Hop Version)This poetic passage from Fight of the Century, a new economics hip-hop music video that kicked off an opening session of the Investment Management Consultants Association, held in New York City in January, encapsulated a key argument of one the sessions two presenters: that claims as to the effectiveness of...
March 06, 2012
Greek 1-Year Bond Hits 1,000%Investors who would drool at the chance to turn a $1,000 investment into $10,000 in just a year are likely in no better position than the Greek mythological figure Tantalus unable to grasp the low-hanging fruit just out of his reach.
March 06, 2012
Portuguese Bond Yields RisePortugal may be in need of a second bailoutor so it seems from its sovereign bond yields, which have risen steadily despite a flood of cash from the European Central Bank that is flowing to other investment targets.