Economy & Markets
The important economic and stock market news that advisors need to know.
German Cabinet Approves Bigger Rescue Fund
By Marlene Y. SatterThe members of German Chancellor Angela Merkels Cabinet gritted their teeth and passed a measure on Wednesday that would provide for a larger rescue fund in response to the euro zone debt crisis.
August 30, 2011
News Analysis: Are We in a Recession?Consumer confidence plunged to two-year lows in August, stoking predictions and outright declarations that the economy has slipped into recession. The latest Consumer Confidence Index reading of 44.5 is lower than the 53.9 average for the 2007-2009 recession.
August 30, 2011
Advisor Confidence Falls to Lowest in a Year as Consumer Fears of Recession GrowMany independent RIAs have been moving clients to cash, though they remain somewhat upbeat on the markets.
August 30, 2011
PIMCO’s Gross ‘Crying in His Beer’ on Anti-Treasury BetGross said in an interview, When youre underperforming the index, you go home at night and cry in your beer. Its not fun, but who said this business should be fun. Were too well paid to hang our heads and say boo-hoo.
August 29, 2011
Correlations Augur for Asset Class DiversificationA recent article in The Wall Street Journal supports our earlier assertion that equity sectors are becoming highly correlated.
August 29, 2011
Obama Taps Economist Alan Krueger as Council ChairmanPresident Barack Obama nominated Alan Krueger, who served as the U.S. Treasurys chief economist from 2009 to 2010, to replace Austan Goolsbee as chairman of the Council of Economic Advisers.
August 29, 2011
Q2 Annuity Sales Continue RiseFollowing the Insured Retirement Institutes announcement on Aug. 17 that variable annuity sales increased 23% in the first quarter of 2011, the organization announced that second quarter annuity sales are up again.
August 29, 2011
Personal Spending Surges Even as Confidence Sinks: News AnalysisWhat matters more: consumers actual spending or an intangible general mood based on survey data?