Economy & Markets
The important economic and stock market news that advisors need to know.
PIMCO Launches PIMCO Credit Absolute Return Fund
By John SullivanPIMCO announced Wednesday the launch of the PIMCO Credit Absolute Return Fund. The company describes it as a fund for investors seeking a global, diversified strategy that is focused on absolute return and not constrained by a benchmark.
August 30, 2011
ETNs Take Center Stage in Europe’s CrisisThe U.S. ETN marketplace is heavily composed of products issued by European banks.
August 30, 2011
FOMC Minutes Show Some Dissension at Fed After S&P’s U.S. Debt DowngradeMinutes from the Fed's Aug. 9 meeting that monetary policy makers were fully aware of the volatile global markets and issues surrounding the S&P downgrade of U.S. debt when they announced they will keep interest rates low through mid-2013.
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.