Economy & Markets
The important economic and stock market news that advisors need to know.
Morgan Keegan to Pay $200 Million Over Bond Fund Allegations
By Marlene Y. SatterMorgan Keegan & Company will pay $200 million to settle allegations of exaggerated claims, failures in supervision and undisclosed investment risks, the Financial Industry Regulatory Authority announced Wednesday.
June 22, 2011
El-Erian of PIMCO Predicts Greece, Others Will DefaultMohammed 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
Keynes’ Theory Turns 75 as Debate on Government Spending Rages OnNobel-prize winning economist and New York Times columnist Paul Krugman addressed the plenary session of the conference, held at Keynes’ alma mater, Cambridge University, this week.
June 21, 2011
Greek Prime Minister Survives Confidence VoteGeorge Papandreou of Greece won a crucial vote of confidence late Tuesday, with all 155 lawmakers of the Socialist party expressing their support for his beleaguered government, significantly above the absolute majority of 151 votes required by Greece’s 300-seat Parliament.
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.