Economy & Markets
The important economic and stock market news that advisors need to know.
Portugal Gets Mixed News: Ratings Cut, Threat; Victory in Court Appeal
By Marlene Y. SatterPortugal got bad news on Monday and good news on Tuesday, although the former may outweigh the latter. Standard & Poor’s said that it might downgrade the country’s rating again, after last week’s slice of two notches from the grade—this after it cut long- and short-term counterparty credit ratings for...
March 28, 2011
Next Global Bank Crisis May Be in Wings, Says Canadian RegulatorTed Price, assistant superintendent of the Office of the Superintendent of Financial Institutions, said Sunday that the next global banking crisis could be on its way and that regulators should bear down on the financial industry before it hits.
March 28, 2011
Portugal’s Socrates Still Heads Socialists, Will Oppose Bailout in ElectionJose Socrates, who resigned as prime minister of Portugal after austerity measures proposed by his Socialist party were defeated in a parliamentary vote, was reelected on Sunday by his party with 93% of the vote. He pledged to run in opposition to acceptance of a financial bailout.
March 28, 2011
Federal Budget and Jobs; Securities America Saga—Advisor Briefing for the Week of March 28, 2011Market-moving news of interest to advisors this week: Congress returns to address 2011, 2012 budgets; March unemployment, and the Securities America saga continues.
March 27, 2011
Looking Beyond Gold for AlphaThe yellow metal’s rapid rise could signal inflation ahead, and the market could rotate foreign stocks.
March 25, 2011
Pimco’s El-Erian Pessimistic on Japan Recovery, Europe Debt CrisisPIMCO's CEO and co-CIO warns of a slower Japan recovery from earthquake and its aftermath, and worries about Europe’s ineffective response to the debt crisis.
March 25, 2011
U.S. Economy Challenged After Strong GDP Growth in Q4 2010The U.S. economy, as measured by GDP, grew at an annual rate of 3.1% in the October-December quarter, the Commerce Department reported Friday.
March 25, 2011
Interest Rates to Remain Low, QE3 Unlikely, Says Fed President LockhartThe Fed won't extend its $600 billion bond buyback program because the U.S. economic recovery is on solid ground, Atlanta Fed President Dennis Lockhart said.