Economy & Markets
The important economic and stock market news that advisors need to know.
EU Finance Ministers Approve Ireland Bailout
By Marlene Y. SatterEU officials unanimously approved a bailout plan for Ireland, and discussed building a permanent vehicle for future bailouts.
November 26, 2010
Portuguese Parliament Passes Austerity BudgetPortugal passed a tough austerity budget for 2011 on Friday, in a bid to cut the country's deficit to 4.6% of GDP in 2011. The 2011 budget raises the value added tax (VAT) from 21% to 23%, cuts civil servant wages by 5%, and slashes public spending.
November 26, 2010
November’s Closed-End Fund Theme: Volatility in Muni BondsThe story in closed-end funds in November has been the volatility in the municipal asset class, with 12-month highs in trading volume, widening discounts and lower prices.
November 24, 2010
Personal Income, Spending Rise; New Home Sales FallWith personal income and spending, though not on homes, both up and consumer confidence on the increase, the holiday season may be brighter than anticipated.
November 24, 2010
Ireland Unveils 4-Year Austerity Plan; Two Large Banks to Be Taken OverIreland unveiled its four-year austerity plan on Wednesday, which included the take over of two of the country's largest banks.
November 23, 2010
Corporate Profits Reach Highest Level EverThe Department of Commerce reported Tuesday that corporate profits reached $1.65 trillion in the third quarter, the highest on record.
November 23, 2010
At FOMC November Meeting, Inflation Seen as ‘Subdued’ and Housing Market Activity as ‘Exceptionally Weak’Minutes of the FOMC meeting indicate frustration at slow recovery but low probability of a double-dip recession.
November 23, 2010
Existing Home Sales Slide, as Q3 GDP Is Revised UpwardExisting home sales fell 2.2% in October after two months of gains, to a seasonally adjusted rate of 4.43 million. Even as home sales...