Economy & Markets
The important economic and stock market news that advisors need to know.
Strauss-Kahn Steps Down as IMF Chief
By Marlene Y. SatterIn the wake of pressure to step down, Dominique Strauss-Kahn, the head of the International Monetary Fund (IMF), has resigned his position. Now the issue of prominence is who will succeed him and preside over the ongoing debt crisis in Europe.
May 18, 2011
Geithner Pushing for Strauss-Kahn to Quit IMFDominique Strauss-Kahn, head of the IMF arrested on charges of sexual assault, was pressured to quit Wednesday by Treasury Secretary Timothy Geithner.
May 18, 2011
IMF Warns Greece: Reform or RestructureAccording to an IMF envoy monitoring Greece’s progress in implementing reforms to drive down its debt, those reforms aren’t coming fast enough and that could have dire consequences for Athens.
May 18, 2011
Soros Dumped Gold in Q1; Price Rising Once MoreAccording to 13-F filings with the SEC, billionaire George Soros dumped nearly all his holdings in gold in the first quarter of 2011, after calling it "the ultimate bubble." However, on Wednesday gold halted three days of losses to head back up, as investors sought to buy on the dips.
May 17, 2011
Treasury’s Geithner Slams Congress for Debt Ceiling MessIn remarks given at the Harvard Club in New York just one day after the Treasury hit its debt ceiling, Geithner spoke of unsustainable future fiscal deficits caused in part by the many Americans who will turn 65 in the next decade.
May 17, 2011
Muni Bond Markets Rally to Highest Level in 6 MonthsRally comes at a time of extremely low supply of newly issued municipal bonds.
May 17, 2011
Strategists Kelly, Doll, Ryan Bullish on U.S.: IMCA ConferenceThree prominent investment strategists offered good tidings of positive U.S. market performance for the balance of the year. David Kelly of JP Morgan Funds, Robert Doll of BlackRock and Michael Ryan of UBS Financial Services buoyed an audience of financial advisors on the second day of IMCA’s annual meeting in...
May 17, 2011
End of QE2? Not a Problem, Say ING Investment Management CIOsThe end of QE2 does not mean the end of the party for credit and the expansion will stay on track, say ING Investment Management fixed-income CIOs.