Economy & Markets
The important economic and stock market news that advisors need to know.
Irish Banking Law in New Budget Up for Scrutiny
By Marlene Y. SatterAs part of last week’s approval of the new austerity budget for Ireland, its Parliament also gave its finance minister broad new powers over the banking sector.
December 19, 2010
Greece Receives More Bailout Funding as Emerging Markets RiseAs Greece breathed a sigh of relief at the International Monetary Fund’s (IMF) decision to release the next tranche of funding in its bailout package, the IMF itself began to shift voting power within the organization to emerging market countries so that it “better reflects realities.”
December 19, 2010
Ireland, Spain Feel Pain of AusterityA poll of Ireland’s citizens indicates deep division over the rescue package the country has accepted from the EU and IMF.
December 17, 2010
Now That Omnibus Spending Bill Shelved, What Happens Next?“Since the Senate biggy was defeated [omnibus spending bill], I don’t think it will do a whole lot [on budget resolution] before recess,” says former Congressman Bill Frenzel (R-Minn.), now a guest scholar of economic studies at the Brookings Institution.
December 17, 2010
Moody’s Slashes Ireland’s Rating 5 Notches as EU Leaders MeetIn the wake of the approval of the EU-IMF rescue package for Ireland on Thursday, Moody’s on Friday slashed Ireland’s credit rating—not by an expected position or two but by five levels, from Aa2 to Baa1.
December 16, 2010
Geithner: TARP Will Cost Much Less Than ExpectedGeithner was on Capitol Hill on Thursday to outline the benefits of the government's bailout of the financial system, known as TARP.
December 16, 2010
Ashmore Plans 5 Emerging-Market Debt FundsThe new funds will focus on sovereign debt, local currencies and corporate debt in emerging-market economies
December 16, 2010
SIFMA Forecasts Municipal Bond Issuance to ClimbSurvey projects total $502 billion in new munis for 2011, up 16%.