Economy & Markets
The important economic and stock market news that advisors need to know.
2010 Q4 Earnings: Prudential Profit Is $213 Million on Strong Annuity Sales
By John SullivanAccount values pass $100 billion milestone.
February 09, 2011
Mortgage Applications Driven Down by Rate SpikeThe Mortgage Bankers Association said Wednesday its overall mortgage application index fell 5.5% from the previous week.
February 09, 2011
Weber Not Candidate to Head ECB; Euro Falls on News, Euribor RisesEuropean sources said in a Reuters report on Wednesday that Axel Weber, head of the Bundesbank, Germany’s central bank, will not seek the top post at the European Central Bank when Jean-Claude Trichet’s term expires in October.
February 09, 2011
Moody’s Warns Japan on DebtMoody’s Investors Service warned Wednesday that Japan’s credit rating might be in for a downgrade if that nation cannot successfully implement fiscal reforms.
February 09, 2011
FPA Capital’s Bob Rodriguez Says Economic Meltdown Looming: AdvisorOne InterviewInvigorated after a year-long sabbatical, renowned fund manager Robert Rodriguez, CEO of First Pacific Advisors, sternly warns that markets and the economy are threatened by the governments tardiness in addressing fiscal reform.
February 09, 2011
Republicans Grill Bernanke Over Inflation ThreatNew House Budget Committee Chairman Paul Ryan, R-Wis., sharply questioned Federal Reserve Chairman Ben Bernanke on Wednesday over whether the Fed's policies are raising the risk of rising inflation in the months ahead.
February 09, 2011
BondDesk Launches Its First Muni Report as Market Turmoil RisesFixed-income technology firm BondDesk has launched a free monthly municipal market report, written by Chris Shayne, which focuses on bond trading activity among retail investors.
February 09, 2011
Egypt’s Central Bank May Intervene Again; SocGen Could Take HitOn Wednesday, Egypt’s central bank, which intervened successfully on behalf of the pound on Tuesday, said that it might do so again if the need arose.