Economy & Markets
The important economic and stock market news that advisors need to know.
ETFs, North Africa & Oil: A Cool Arab Spring
By Janet LevauxPolitical uprisings in the Middle East and North Africa have spread considerably since early 2011, with Thursday marking the end of the regime (and life) of Col. Moammar Gadhafi in Libya. But ETFs with a focus on the region have been falling sharply, along with oil prices.
October 20, 2011
UBS to Trim, Not Sell, Investment Bank, Report SaysAs further details emerge regarding its recent $2.3 billion trading loss, UBS interim CEO Sergio Ermotti has decided against spinning off or selling the investment bank and, instead, plans to reduce its size, especially in its fixed-income work.
October 20, 2011
Social Security’s 3.6% Benefit Increase Scorned as Not EnoughFor the first time since 2009, the U.S. government said Wednesday that it will raise Social Security benefits with a cost-of-living adjustment, up 3.6%, and the announcement was followed by praiseand criticism.
October 20, 2011
Merkel, Sarkozy Split on Debt BailoutAs the clock ticks down to a weekend summit meeting of euro zone leaders to discuss a plan to deal with the euro zone debt crisis, disagreement between France and Germany over the European Financial Stability Facility threatens to bog down the process and escalate the financial crisis.
October 20, 2011
IMF, Troika Divided Over Greek RescueDissension over Greece's second bailout is dividing the bodies that make up the troika, the so-called joint commission of the International Monetary Fund, the European Union and the European Central Bank.
October 20, 2011
Which City Is No. 1 in Ultra-Rich Individuals? New York, of CourseNew York is home to 6% of the population of the U.S., but counts 13% of ultra-high-net-worth individuals among its residents, according to research by Wealth-X, a global wealth intelligence, due diligence and prospecting firm.
October 20, 2011
FPA Capital’s Bob Rodriguez Forecasts Recession, Cautious on Markets: AdvisorOne ExclusiveLegendary money manager Rodriguez says structural changes are key to our fiscal revival but doubts the country's political will to make them.
October 19, 2011
On Fixed Income, ‘Europe Is Wild Card,’ Say Fidelity Managers: RIS 2011Two fixed income gurus from Fidelity explore the bond universes pros and possible cons for attendees at the Retirement Income Symposium.