Economy & Markets
The important economic and stock market news that advisors need to know.
Drivers Cutting Back as Gas Prices Rise
By Staff WriterDrivers bought about 2.4 million fewer gallons for the week of April 1, a 3.6% drop from last year, according to MasterCard SpendingPulse, which tracks the volume of gas sold at 140,000 service stations nationwide.
April 12, 2011
Greek Bond Sale Sees Demand, Yield Slightly Higher Post-BailoutTuesday’s auction by Greece of some 1.63 billion euros ($2.35 billion) in 6-month T-bills, while presenting slightly higher yields than its last auction in March, also drew more interest from foreign investors and somewhat higher demand.
April 12, 2011
After Trichet, ECB Chief Is Likely to Be Italy’s DraghiThe announcement by Axel Weber in February that he was withdrawing his name from consideration as the next head of the European Central Bank opened the field to other candidates, but as time has passed Mario Draghi, head of Italy’s central bank, has emerged as the strongest of those.
April 11, 2011
Budget War Expected to Rage as Debate Turns to 2012Now that last week’s U.S. budget battle is over, with Democrats and Republicans both claiming victory in the deal negotiated Friday night, the real fiscal war can.
April 11, 2011
2011 SMA Fixed Income Manager of the Year: Sage Advisory ServicesSage’s Intermediate Fixed Income Portfolio: Internal and external research, but then efficient trading.
April 11, 2011
Iceland Votes Against Repayment to U.K., DutchIceland on Saturday voted against a referendum to repay funds loaned to them by the British and the Dutch when Icelandic banks collapsed in 2008.
April 11, 2011
China Posts Q1 Trade DeficitIn the first quarter of 2011, China posted a trade deficit, something it has not done since 2004. In Q1, the nation imported $1.02 billion more than it exported.
April 11, 2011
QE2 to End on Schedule; Stimulus Need Mostly Gone: Janney’s LuschiniThe economic stimulus strategy known as QE2, according to Mark Luschini, economic strategist at Janney Montgomery Scott, has largely done its work, and should come to an end on schedule on June 30 with small likelihood of a follow-on QE3 to take its place.