Economy & Markets
The important economic and stock market news that advisors need to know.
China to Kick Off $300 Billion Investment Vehicle for FX
By Marlene Y. SatterChina is on the verge of launching a new $300 billion investment vehicle that would boost returns on foreign exchange reserves by setting up funds targeting the U.S. and Europe.
December 08, 2011
MF Global’s Corzine Tells Congress: I Don’t Know Where the Money IsThe former CEO of now-bankrupt MF Global says he was stunned' to learn about the missing $1.5 billion in client funds at commodities broker-dealer.
December 08, 2011
ETF Flows Diminish, but Stay Positive: Morningstar ReportU.S. ETF inflows in November fell to $4.7 billion from $20.3 billion in October, Morningstar reported Thursday, and ETF assets dropped by 1.5% to end November with just over $1 trillion.
December 08, 2011
PIMCO’s El-Erian: ECB Waiting for IMF, Governments to 'Step Up'PIMCO CEO and co-CIO Mohamed El-Erian spoke to Bloomberg Television's Betty Liu on a wide range of topics Thursday that included Europe's crisis and the fact that the ECB is waiting for governments and the IMF to 'step up' before taking further action.
December 08, 2011
Japan Denies IMF Seeking $600 Billion to Help Euro ZoneA report in the daily Nikkei paper that the G20 was putting together an IMF $600 billion lending facility to help the euro zone was denied, first by the IMF and then Canada, and then by Japan.
December 08, 2011
S&P Warns on Possible Downgrade of EU, BanksStandard & Poor's, continuing a theme it began earlier this week, said Wednesday that the European Union itself could face the loss of its AAA credit rating, as could large euro zone banks.
December 08, 2011
ECB Eases Rates and Rules to Bolster BanksThe European Central Bank will lend banks as much money as they need for three years, in addition to dropping its key interest rate to zero and loosening collateral rules andreserve ratio requirements.
December 07, 2011
How Could J.P. Morgan Deliver Stocks and Bonds Cheaper Than Today’s Industry?While the Occupy Wall Street movement regards Wall Street greed as the reason for all the money sloshing around lower Manhattan, new academic research suggests that todays huge appetite for trading may explain the financial industrys large size.