Economy & Markets
The important economic and stock market news that advisors need to know.
Alcoa to Help GRI Revise Sustainability Reporting Guidelines
By Michael S. FischerAlcoa is partnering with the Global Reporting Initiative (GRI) to develop the next generation of corporate sustainability reporting guidelines
July 05, 2011
Global X Income-Producing ETFs Declare First DistributionsNew 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
Moody’s Downgrades Portugal’s RatingMoody’s Investor Services announced Tuesday that it has downgraded the long-term government bond rating for Portugal from Baa1 to Ba2 and assigned the country a negative outlook.
July 05, 2011
Gold Rises 2%, Could Hit $1,600 by Year-EndConcerns over China, inflation and other factors are leading to renewed interest in the precious metal
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.