Economy & Markets
The important economic and stock market news that advisors need to know.
BofA-Merrill Survey Shows Bump in Risk Tolerance
By Janet LevauxInvestors seem convinced that rates will remain low and have reduced their cash holdings in favor of equity positions.
April 15, 2011
2011 Q1 Earnings: Schwab Earns $0.20 per Share on 23% Jump in RevenueCharles Schwab reported that net income in the first quarter of 2011 was $243 million, or $0.20 in EPS, slightly beating analysts’ earnings consensus.
April 15, 2011
2011 Q1 Earnings: Bank of America EPS Disappoints; Merrill Profits Up 68.6%Bank of America reported disappointing Q1 2011 earnings, but the GWIM unit saw one of its strongest quarters since the acquisition of Merrill Lynch.
April 14, 2011
Congress Passes Compromise 2011 Budget BillThe House and Senate on Thursday passed the FY2011 spending bill that was agreed to late Friday night and prevented a government shutdown.
April 14, 2011
Insurance Rep Blasts FSOC at House HearingAt a hearing before the House Financial Services Committee oversight subcommittee on the role and actions of the FSOC on Thursday, John Huff, Missouri’s director of insurance and a representative of the NAIC, voiced discontent with representation on the council for the industry.
April 14, 2011
Weekly Jobless Claims Make Unexpected JumpMore people applied for unemployment benefits last week, the first increase in three weeks. Still, the broader trend points to a slowly healing jobs market.
April 14, 2011
Greek Bond Yields Driven Higher on Restructuring FearsThe yield on Greek bonds, particularly for short-term paper, skyrocketed Thursday as worries over the possibility of haircuts drove investors’ fears. Portuguese, Italian, and Spanish bonds followed, since anything that would initiate a Greek restructuring would likely affect the other troubled nations as well.
April 14, 2011
Iceland Risks Junk Rating in Wake of VoteAfter voters in Iceland rejected a negotiated deal to repay Britain and the Netherlands for their losses in the wake of the Icesave collapse, Standard & Poor’s said Wednesday that the country risks having its sovereign status downgraded to the level of junk—a rating it already holds from Fitch, and...