Economy & Markets
The important economic and stock market news that advisors need to know.
Italy Stunned by S&P Downgrade
By Marlene Y. SatterStandard & Poors took Italy by surprise Monday night with a cut in its credit rating that put it below Slovakia and on the same level as Malta, with a negative outlook. It was the first such cut in five years.
September 19, 2011
Obama Deficit Plan Includes $1.5 Trillion in Tax Hikes on WealthyPresident Barack Obama announced Monday his plan to reduce the deficit by more than $3 trillion over the next decade, including $1.5 trillion in tax increases for the wealthy.
September 19, 2011
Roubini, PIMCO’s El-Erian: Kick Out Greece to Save EuroMohamed El-Erian, CEO and co-CIO of PIMCO, said that one way to save the euro was by cutting the size of the 17-nation bloc through the exit of Greece and one or two other unspecified countries.
September 19, 2011
Obama Unveils Deficit Plan, Using ‘Buffett Rule’ for Tax on WealthyPresident Barack Obama on Monday announced a plan to reduce the deficit by more than $3 trillion over the next 10 years, with $1.5 billion coming from new taxes on the wealthy.
September 17, 2011
Why I’m Cautious on Stocks, Unimpressed With Bonds, and as for Cash…Washingtons efforts to prop up the economy are more political than pragmatic. In the meantime: no pain, no (long-term) gain.
September 16, 2011
Advisor’s Top Job: Helping Clients Stay Cool, Survey SaysIn hot markets, its crucial for advisors to do plenty of hand-holding and other work, say most financial advisors polled by Russell Investments.
September 16, 2011
Gundlach Guilty of Fiduciary Breach, but Awarded Millions in DamagesA jury awarded Jeffrey Gundlach and co-defendants $66.7 million but found he breached his fiduciary duty and violated trade secrets when the star fund manager broke off from TCW to start rival firm DoubleLine Capital.
September 16, 2011
UBS Trader Kweku Adoboli Hires Lawyers of Nick Leeson, Rogue ’90s TraderUBS trader Kweku Adoboli was charged Friday with engaging in fraud and false accounting since 2008, and hired the lawyers who represented rogue trader Nick Leeson to defend him.