Economy & Markets
The important economic and stock market news that advisors need to know.
Greece, Europe Agree on Bailout to Avert Default
By Marlene Y. SatterAfter months of wrangling and several missed deadlines by Greece, euro zone finance ministers finally reached accord on a new bailout for Athens that included additional austerity measures and cuts for private bondholders.
February 20, 2012
Banks, Storage Companies Expand Gold VaultsDemand for gold has already resulted in the building of new vaults or expansion of old ones as investors in a flight to safety have accumulated stores of the precious metal.
February 20, 2012
Merkel Backs Rights Activist for President of GermanyGerman Chancellor Angela Merkel has agreed to support former East German rights activist Joachim Gauck to replace Christian Wulff as president of Germany.
February 17, 2012
Italian Police Seize $6 Trillion of Fake U.S. Treasury BondsItalian police said on Friday announced they had seized about $6 trillion worth of fake U.S. Treasury bonds, worth roughly a third of the entire U.S. national debt that, if released into the worldwide financial system, could potentially have caused serious disruptions.
February 17, 2012
The Stimulus Three Years On: Did It Help the Economy?Three years after President Barack Obama signed the stimulus bill, a jury of eminent economists is retrospectively voting its approval of the controversial stimulus measure. Still, a minority of the surveyed economists remain unimpressed with the spending bill.
February 17, 2012
John Bogle on Taxes: Praise for Obama; Raise Capital GainsOften at odds with the modern fund industry he helped create, Bogles comments ran counter to vehement opposition from investment managers and trade organizations over raising taxes on dividends and capital gains.
February 17, 2012
LPL’s Kleintop Sees Eurozone Surviving Without Greece: Weekend InterviewJeffrey Kleintop, chief market strategist for LPL financial, says he believes that a Greek default and departure from the eurozone will not take a terrible toll on markets, because many institutions have had ample time to divest themselves of some of their Greek debt.
February 17, 2012
Greek-German Relations Strained in Debt NegotiationsGermany's get-tough attitude toward Greece, echoed by Austria, Finland and the Netherlands, has angered Greek officials who say they have done everything they were asked to do in order to be granted a second bailout by the troika of the European Union, International Monetary Fund and European Central Bank.