Economy & Markets
The important economic and stock market news that advisors need to know.
Papandreou Reportedly to Step Down as Greek Prime Minister
By Marlene Y. SatterGreece's drama on the international stage continued on Friday as a confidence vote, scheduled for later in the day, could end its prime minister's career whatever its outcome. Sources in Athens said that George Papandreou, acknowledging that his call earlier in the week for a referendum on the country's newest...
November 03, 2011
Putnam Bets on Capital Preservation in ‘Floating-NAV World’Investors have taken a trillion dollars in assets out of money market funds since the Lehman crisis in 2008 and now Putnam Investments is looking to create a new home for these discouraged investors seeking safety but balking at low yields.
November 03, 2011
Five Key Elections for Advisors to Watch in 2012: J.P. MorganAdvisors need to keep an eye on political elections around the globe next year, says Rebecca Patterson, J.P. Morgan Asset Managements chief markets strategist.
November 03, 2011
MetLife CEO Co-Leads Economic Policies Working Group at B20 MeetingMetLifes Kandarian said the B20 group urged policymakers to balance the need to prevent another financial crisis with a focused commitment to private-sector economic growth.
November 03, 2011
MetLife CEO Co-Leads Economic Policies Working Group at B20 MeetingMetLifes Kandarian said the B20 group urged policymakers to balance the need to prevent another financial crisis with a focused commitment to private-sector economic growth.
November 03, 2011
Chuck Schwab at Impact 2011: Bernanke ‘BS’; Obama’s Got to GoThe chairman says there must be a leadership change before the U.S. economy can expand.
November 03, 2011
Euro More Important Than Greece: EurozoneAs eurozone ministers pressured Greek Prime Minister George Papandreou to drop plans for an announced referendum on the country's latest negotiated rescue package, they made their priorities clear at a midnight news conference following a grueling crisis meeting in Cannes. Their pressure apparently worked as Papandreou backed off his call...
November 03, 2011
ECB Cuts Interest RateThe European Central Bank unexpectedly cut its interest rate a quarter point to 1.25% at its first meeting with new President Mario Draghi at the helm. Markets reacted immediately to the move.