Economy & Markets
The important economic and stock market news that advisors need to know.
Soros Gambles Big on European Debt
By Marlene Y. SatterThe fact that George Soros took his investment firm private earlier this year may be the factor that potentially allows him to score big on a $2 billion bet: European bonds purchased from MF Global Holdings Ltd., Jon Corzine's now-bankrupt securities firm.
December 09, 2011
China to Kick Off $300 Billion Investment Vehicle for FXChina is on the verge of launching a new $300 billion investment vehicle that would boost returns on foreign exchange reserves by setting up funds targeting the U.S. and Europe.
December 09, 2011
Moody’s Downgrades French BanksMoodys Investors Service cut Frances three largest banks by one notch, citing a 'very high' probability that the French government would intervene with support.
December 09, 2011
Britain Isolated on Fiscal UnionBritain was left standing alone as most of the 27-nation European Union agreed to consider a separate treaty with stricter budget rules for the euro zone.
December 08, 2011
MF Global’s Corzine Tells Congress: I Don’t Know Where the Money IsThe former CEO of now-bankrupt MF Global says he was stunned' to learn about the missing $1.5 billion in client funds at commodities broker-dealer.
December 08, 2011
ETF Flows Diminish, but Stay Positive: Morningstar ReportU.S. ETF inflows in November fell to $4.7 billion from $20.3 billion in October, Morningstar reported Thursday, and ETF assets dropped by 1.5% to end November with just over $1 trillion.
December 08, 2011
PIMCO’s El-Erian: ECB Waiting for IMF, Governments to 'Step Up'PIMCO CEO and co-CIO Mohamed El-Erian spoke to Bloomberg Television's Betty Liu on a wide range of topics Thursday that included Europe's crisis and the fact that the ECB is waiting for governments and the IMF to 'step up' before taking further action.
December 08, 2011
Japan Denies IMF Seeking $600 Billion to Help Euro ZoneA report in the daily Nikkei paper that the G20 was putting together an IMF $600 billion lending facility to help the euro zone was denied, first by the IMF and then Canada, and then by Japan.