Economy & Markets
The important economic and stock market news that advisors need to know.
Greece Sees Second Rescue as Euro Bond
By Marlene Y. SatterGreece's Prime Minister George Papandreou said that the bond repurchase measure in the country's second bailout amounted to a joint euro zone bond in what he called a move beyond a monetary union for the group of 17 nations sharing a single currency.
July 26, 2011
Does Anyone Have a Real Economic Plan?Going 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
A Financial Advisor for PresidentNicole Gelinas, the original and always thought-provoking author of After the Fall, offers a first look at the presidential race in this month’s…
July 26, 2011
George Soros to Retire, Blames Dodd-FrankLegendary hedge fund manager George Soros, perhaps best known forcing the British government to devalue the pound during the infamous “Black Wednesday” market crisis, is retiring from investing.
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.