Economy & Markets
The important economic and stock market news that advisors need to know.
Tim Clift Says FundQuest’s Analysts Will Complement Envestnet|PMC’s Quants
By James J. GreenNow chief investment strategist at PMC following acquisition by Envestnet, Clift says advisors can expect higher correlations through election; Europe already in recession.
January 26, 2012
Greek Debt Talks Resume Amid BickeringTalks to resolve the Greek debt crisis were to continue on Thursday, amid ongoing disagreements among private creditors, the European Central Bank and other parties about which degree of losses might be considered acceptable and who might have to be included in those losses.
January 26, 2012
European Cash Hoarding Puts Corporations at Default RiskBanks which accepted cash from the European Central Bank are using it to buy bonds or else are hoarding it and not lending, as it was intended, and their actions will lead to more corporate defaults.
January 26, 2012
Geithner Will Not Be Obama’s Treasury Secretary in Second TermTreasury Secretary Tim Geithner spoke to Bloomberg Television's Trish Regan today and said that President Obama is "not going to ask me to stay on, I'm pretty confident."
January 25, 2012
RIAs’ M&A Activity Fell in 2011, but They Remain ‘Dominant Buyer’While the number of M&A deals and the average deal size are down, RIAs are the 'dominant buyer,' according to a report released by Schwab Advisor Services.
January 25, 2012
Obama and Buffett Rule Make ‘Good Tax Politics, Not Good Tax Policy,’ Expert SaysA central focus of President Barack Obamas State of the Union address was economic fairness, and requiring the wealthiest to pay more in taxes, but tax specialists and wealth managers say hiking taxes for the rich will do nothing to fix the tax code.
January 25, 2012
Japan Records First Trade Deficit in Over 30 YearsFor the first time since 1980, Japan has come up short on exports. A trade deficit revealed in data released Wednesday showed the toll the triple disaster of 2011 has taken on the country's economy.
January 25, 2012
Business of Sports: 6 Big Sponsorships by New York LifeNew York Life invests heavily in sponsoring the games we love to watch and sees benefits beyond just name recognition.