Economy & Markets
The important economic and stock market news that advisors need to know.
Global X Income-Producing ETFs Declare First Distributions
By Marlene Y. SatterNew York-based Global X Funds announced Friday the first monthly distributions for its Global X Canada Preferred ETF (CNPF) and Global X SuperDividend ETF (SDIV).
July 05, 2011
Chinese Local Government Debt More Than Estimated: Moody'sMoody's said Tuesday that the total debt owed by local Chinese governments may be 3.5 trillion yuan ($540 billion) more than Beijing's auditors estimated, meaning that its banks could be liable for losses large enough to jeopardize their credit ratings.
July 05, 2011
ECB Will Accept Greek Bonds Unless All Agencies Rate DefaultThe European Central Bank (ECB) will continue to accept Greek sovereign bonds as collateral for liquidity as long as all agencies have not categorized a proposed rollover operation as a default.
July 04, 2011
S&P Warns France's Greek Debt Plan Is 'Selective Default'Standard & Poor's on Monday warned that if the French plan to roll over Greek debt is adopted it would probably lead to a "selective default" rating because it would lead to losses for bondholders.
July 04, 2011
Debt Limit 'Unconstitutional,' Say Democrats; 'Crazy Talk,' Says a RepublicanAs the clock ticks toward potential default, Congress, still sparring over whether a deal can be reached to increase the debt limit, is facing a new debate. Last week Democrats began talking about the possibility that the debt limit itself is unconstitutional.
July 01, 2011
Inflated ScienceIn 1968, the Swedish central bank donated money to the Nobel Foundation to establish a Nobel Prize in economics. It became the sixth category in which…
July 01, 2011
Inflation’s Economic ImpactAs developed markets continue to use monetary and fiscal policies to re-flate stagnant economies, many economists currently believe that these economies…
July 01, 2011
Catching up with… Bob ReynoldsIn June 2008, Bob Reynolds, the former Fidelity Investments vice chairman and COO, joined Putnam Investments. His impact was nearly immediate, and the…