Economy & Markets
The important economic and stock market news that advisors need to know.
El-Erian of PIMCO Predicts Greece, Others Will Default
By Marlene Y. SatterMohammed El-Erian, head of PIMCO, said Wednesday that Greece and other European economies would default on their debts as a means of solving their problems.
June 21, 2011
Fed Expected to Stand Pat on Rates, QE3 at MeetingFed policymakers are expected on Wednesday to keep interest rates at historic lows and to make no plans for a third round of quantitative easing.
June 21, 2011
S&P 500 Stocks Cheapest in 26 YearsFor the second time since the bull market began, profits are surging and stocks are falling, Bloomberg reported Monday.
June 21, 2011
PIMCO's Bill Gross Blasts Job Creation, College EducationIn an unusual mid-month commentary, the PIMCO chairman said the government must re-think how it approaches job creation, and said that a college education was a waste of money.
June 21, 2011
Gold Gains as Greece Courts DefaultAs doubt swirled around Greece and its ability to avoid default, skittish investors returned to the traditional safe haven of gold, driving its price higher after several weeks in the doldrums.
June 21, 2011
Fitch Threatens Greek Downgrade if Bond Rollover OccursAs Greece faces an unpopular vote on Tuesday over even more unpopular austerity measures, Fitch Ratings kept up the pressure by saying that it would regard a voluntary rollover of bond maturities as a default and cut the country's credit rating accordingly.
June 20, 2011
iShares Rolls Out Floating-Rate Note Fund; UBS Adds to Energy ETN GroupOther new investment products are launched by Neuberger Berman, Aperio, Aequam and Highland
June 20, 2011
How to Position Clients in CommoditiesIn today's choppy environment, advisors suggest using mutual funds, ETFs and managed futures for some clients