Economy & Markets
The important economic and stock market news that advisors need to know.
Q2 Earnings: BNY Mellon Profits Rise Nearly 12% as Pershing Revenue Stays Flat
By Joyce HansonBank of New York Mellon reported profits of nearly 12% in Q2 2011, but the Pershing RIA custody unit's revenues were flat.
July 18, 2011
AdvisorOne’s 2011 Q2 Earnings Calendar for the Finance SectorAdvisorOne presents a calendar of finance-sector companies reporting second-quarter 2011 earnings, with a focus on firms of greatest interest to financial advisors.
July 18, 2011
Emerging Markets Expected to Outperform Developed Markets: PIMCOA commentary released Monday by PIMCO asks, “Are emerging markets ready to lead the global economy?”
July 18, 2011
European Bank Stocks Crash After ‘Bankmageddon’ on FridayTraders, analysts find bank stress tests to be lacking in credibility.
July 18, 2011
Doubleline's Gundlach Weighs In on Debt Ceiling DebacleGundlach, hosting a conference call last week titled “Now What?”, made predictions on a variety of economic issues from the debt ceiling debate swirling around Washington.
July 18, 2011
Top Portfolio Products: AdvisorShares, Cousteau Develop ETF; Van Eck Introduces Closed-End Municipal Bond ETFNew products introduced in July include a socially responsible ETF from AdvisorShares and a closed-end municipal bond ETF from Van Eck, as well as a guaranteed income annuity from New York Life and a China currency bond fund from Guinness Atkinson.
July 18, 2011
Germany’s Merkel Calls for Greek Debt Buy-Back, SwapAs pressure mounted to come up with a solution to the Greek debt crisis, German Chancellor Angela Merkel called for private investors to kick in. Strategies being discussed include several options, such as a repurchase of bonds or a swap in which they are exchanged for cuts in face value.
July 18, 2011
Obama Bypasses Warren for CFPB, Naming CordrayAfter many months of speculation over who President Barack Obama might choose to run the Consumer Financial Protection Bureau (CFPB) that Elizabeth Warren set up, the wait is over. On Sunday, Obama chose former Ohio Attorney General Richard Cordray to take the top spot.