Economy & Markets
The important economic and stock market news that advisors need to know.
Despite Slovakia Vote, Euro and Stocks Rise
By Marlene Y. SatterDespite Slovakias vote Tuesday night against ratification of the expansion of the Greek bailout fund, markets and the euro on Wednesday, after a period of early losses, made substantial gains in anticipation of a second vote by the Slovak parliament that was expected to approve the measure.
October 11, 2011
PIMCO’s El-Erian: Listen to Occupy Wall StreetAlthough some think that the movement will simply dissipate without effect, El-Erian said that instead it was part of a worldwide drive for greater social justice.
October 11, 2011
European Debt Crisis Systemic: TrichetJean-Claude Trichet, who not only heads the European Central Bank but also the European Systemic Risk Board, told the European Parliament's Committee on Economic and Monetary Affairs on Tuesday that the sovereign debt crisis in Europe has become systemic and that the risk of contagion was increasing rapidly.
October 11, 2011
Greek Debt Writedown May Top 60%A debt crisis summit meeting of European leaders scheduled for October 18 was pushed back to October 23 amid a disagreement about the amount of Greek debt to be written down.
October 10, 2011
Does China Currency Manipulation Hurt Us or Them?: News AnalysisAs the largest foreign holder of U.S. government debt, China has made a killing on its portfolio of U.S. bonds, but it could have done a lot better if its broker had not manipulated the exchange rate on its transactions.
October 10, 2011
PIMCO: For ‘Cheap’ Emerging-Market Equities, Look to ChinaIf youre looking for a bright spot in a sea of investing malaise, emerging-market equities are undervalued and offer opportunity, according to Pacific Investment Management Co.
October 10, 2011
Sarkozy, Merkel: Plan Soon to Recapitalize BanksAfter a weekend meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel, the two emerged with the announcement that they would proceed with devising a plan this month to recapitalize banks in the euro zone
October 10, 2011
Belgium Nationalizes Part of Troubled Bank DexiaBelgian-French bank Dexia is splitting up after the Belgian government announced Monday that it would buy the local consumer lending unit of the company, leaving its Luxembourg unit and French municipal lending division, among other assets, to be sold off to raise capital for a so-called bad bank.