Economy & Markets
The important economic and stock market news that advisors need to know.
Weekly Jobless Claims Fall to 3-Year Low, Leading Trio of Upbeat Reports
By Jeannine AversaThe number of people requesting unemployment benefits last week plunged to a nearly three-year low, bolstering the likelihood that companies will increase the pace of hiring this year.
March 02, 2011
Roubini Firm Predicts Muni Bond Bust Spread Over 5 YearsRoubini Global Economics issued a report on Monday that theorized muni bonds were in for a fall—a big fall, to the tune of some $100 billion—over the next five years, as state and local governments default on obligations.
March 02, 2011
Mr. Dodd Goes to Hollywood: Dodd-Frank Co-Author Takes Movie JobFormer U.S. Sen. Chris Dodd—co-author of the Dodd-Frank financial reform bill—has taken up a new position as head of the Motion Picture Association of America.
March 02, 2011
Fed Beige Book: Economy Expands, Hiring Picks UpThe U.S. economy expanded in January and early February in all parts of the country, but businesses reported they are under pressure to raise their prices.
March 02, 2011
Senate Sends Obama Stopgap GOP Spending BillThe Senate on Wednesday sent President Barack Obama a Republican-drafted stopgap funding bill that trims $4 billion from the budget, completing hastily processed legislation designed to keep partisan divisions from forcing a government shutdown.
March 02, 2011
Putnam Announces New Fixed Income TeamWilliam Kohli, Michael Salm and Paul Scanlon—who have a combined 40 years of experience at Putnam—will co-head the firm’s fixed income team of over 60 investment professionals who manage nearly $60 billion.
March 02, 2011
Turkey Bonds at Risk Over Mideast TensionsOil-importing nation Turkey has seen the value of its debt fall, and the cost of maintaining it rise, as worries about Middle Eastern/North African unrest escalate.
March 01, 2011
Asset Allocation: March 2011I don’t think we’re in a bond bubble, although I know many people feel that way. Our increase in our equity allocation recently simply reflects…