Economy & Markets
The important economic and stock market news that advisors need to know.
UBS to Cut 3,500 Jobs; Wealth Unit Losing 350
By Janet LevauxUBS said Tuesday it planned to cut staff by 3,500 as part of its overall plan to trim about $2.5 billion from its yearly expenses by the end of 2013 to improve operating efficiency.
August 22, 2011
S&P 500 Sinking to 900 if Recession Comes: S&P’s StovallIf history is a guide, the S&P 500 stock index may have another 8% to 20% to fall from the current level in the event of a recession, according to an equity research report issued Monday by Standard & Poors.
August 22, 2011
PIMCO’s El-Erian: Obama’s Economic Speech ‘Mission Critical’Calling President Obamas Sept. 5 economic speech mission critical, El-Erian says if Congress continues to squabble, both the economy and the market will become even more hostage to a harmful feedback loop.
August 22, 2011
Jeremy Siegel Slams TIPS, Recommends Dividend-Paying StocksWharton professor and frequent industry lecturer Jeremy Siegel took to the pages of The Wall Street Journal Monday to warn of the dangers of the Treasury bond market.
August 22, 2011
Mark Mobius: Markets Ready to Rise, Time to Buy CommoditiesAfter markets worldwide dropped 16% over the past few weeks, its time for some positive momentum, investment expert Mobius of Templeton said Monday.
August 22, 2011
Treasuries Price In $500 Billion, Anticipate QE3As central bankers prepare for their annual confab in Jackson Hole, Wyo., later this week, Barclays says traders have already priced in $500 billion to $600 billion of Treasury purchases by the Fed. But analysts interviewed by Bloomberg say its unlikely an announcement will happen, which will result in a...
August 22, 2011
Recession Priced Into Treasuries, as Yields Near Historic LowsInvestors flight to safety into U.S. Treasuries (despite the recent S&P downgrade) has driven yields toward historic lows and has market participants pricing in a recession, say market watchers such as Brent Burns of Asset Dedication.
August 22, 2011
Oil Prices Fall as Libyan Rebels Enter TripoliMarkets hopeful that output from worlds 12th largest oil supplier will ramp back up should Gaddafi regime fall.