Economy & Markets
The important economic and stock market news that advisors need to know.
At Davos, Nouriel Roubini Opens Forum With a Metaphorical Toast
By Dan PerryAt the start of the annual World Economic Forum at Davos on Wednesday, celebrity economist Nouriel Roubini raised a glass that was half full — or was it half empty? — and declared it a metaphor for the global economy.
January 26, 2011
Pound Up, Gilts Down After Reading of Bank of England MinutesWednesday’s release of the minutes of the Bank of England’s Monetary Policy Committee meeting saw a shift in how members regard the danger of inflation, as Martin Weale joined Andrew Sentance in voting for an increase of a quarter point this month. Sterling rose on the news, anticipating an increase...
January 26, 2011
A Portfolio Position Upgrade: FSCFifth Street Finance (FSC), a stock that I’ve mentioned several times in the past, was upgraded on Wednesday by Stifel Nicolaus from Hold to Buy.
January 26, 2011
Financial Crisis Commission's Final Report to Be Released ThursdayThe Financial Crisis Inquiry Commission (FCIC) is due to release on Thursday its final report on the causes of the financial and economic crisis. The New York Times reports that the FCIC concluded the financial crisis was avoidable.
January 26, 2011
Legg Mason Fiscal Q3: Profits Up 37% on Fees as Outflows PersistAsset manager Legg Mason announced Wednesday a 37% jump in profits for the third quarter of 2011, thanks to an increase in fees, but the firm also reported continuing outflows as investors sought to put their money somewhere other than mutual funds.
January 26, 2011
Obama's State of the Union: the Fighter Still RemainsObama's triangulation is all Clinton; his “big things” comment all JFK; two politicians far different from the current occupier of the oval office.
January 26, 2011
2010 Q4 Earnings: Piper Jaffray Tops Estimates on Strong SalesNet revenues for the investment bank’s capital-markets unit rose 18% in the quarter to $151 million.
January 26, 2011
CBO Projects U.S. Budget Deficit May Reach $1.5 TrillionThe CBO said in its budget and economic outlook report released on Wednesday that if current laws remain unchanged, the federal budget will show a deficit of close to $1.5 trillion, or 9.8% of GDP, in 2011.