Economy & Markets
The important economic and stock market news that advisors need to know.
Does Anyone Have a Real Economic Plan?
By Nicole GelinasGoing into next year’s election, President Obama is in a heap of trouble over the economy. Some evidence: in June, only 29 percent of the people who participated in a Wall Street Journal / NBC News poll thought the country was “headed in the right direction.”
July 26, 2011
Debt-Ceiling Stalemate Unacceptable, Say JPMorgan Strategist, BofA EconomistAs the clock ticks down to the Aug. 2 deadline in the debt-ceiling stalemate, market players from JPMorgan Chase and Bank of America said on a SIFMA call that they are growing increasingly worried about the possible economic impact of Washington’s failure to act.
July 26, 2011
Roubini Calls Debt Ceiling a ‘Farce’; Tweets for Tax HikesFamed forecaster Nouriel Roubini is not worried about the U.S. defaulting on its debt, but his Twitter feed reveals a preference for closing revenue gaps with tax hikes. While Mark Mobius predicts missed deadline would sink dollar.
July 26, 2011
Hispanics Suffer Most in Wealth Decline, Pew SaysHousehold wealth fell far more sharply among minorities than in white households, according to data analyzed by the Pew Research Center, with Hispanics taking the brunt of losses.
July 26, 2011
Advisor, Consumer Confidence Rose in JulyAdvisors and consumers alike report feeling more positive about the economy in July.
July 26, 2011
Robert Shiller: Housing Market Still Faces Danger of DropA second month of higher home prices might not mean the housing market is back on track, according to Robert Shiller.
July 26, 2011
Greek Bond Swap to Cost Creditors 21%Swaps of existing Greek bonds for new ones with longer maturity dates will cost private bondholders 21%, according to Greece's deputy finance minister, who said Tuesday that exchanges for the new debt instruments would begin in August.
July 26, 2011
Spanish Bond Auction Shows WeaknessSpain's auction of 3-month and 6-month Treasury bills on Tuesday was a clear indicator that, Greek rescue notwithstanding, the euro zone's debt troubles are far from over.