Economy & Markets
The important economic and stock market news that advisors need to know.
Japan’s Prime Minister Steps Down
By Marlene Y. SatterPrime Minister Naoto Kan of Japan resigned from leadership of his party on Friday and confirmed that he would step down from his government post, leaving the path clear for a successor to be chosen on Monday.
August 25, 2011
Fed’s Hoenig: Forget the Economy, Focus on FinancesOne day before policymakers meet in Jackson Hole, Wyo. Federal Reserve Bank of Kansas City President Thomas Hoenig said theres only so much the central bank can do to help the economy, and that the policy should pivot to focus on the countrys fiscal problems.
August 25, 2011
Real Estate Rebound? Weak Housing Data Hides Seeds of Hope, Analyst SaysWhile this week has produced mostly grim news in the housing sector, a top real estate industry consultant offers a far more encouraging big-picture view of the key economic sector.
August 25, 2011
Gold Zigzags as CME Raises Trading MarginsGold took a roller-coaster ride this week, climbing to record highs before falling back more than $200 an ounce before soaring to records once more.
August 25, 2011
Buffett Puts $5 Billion Into BofA, Draws CriticismBank of America said Thursday that it was selling 50,000 shares of preferred stock with a liquidation value of $100,000 per share and a dividend that pays 6% per year to Berkshire Hathaway.
August 25, 2011
‘Flight to Safety’ Prompts Higher Fixed Annuity SalesSecond quarter fixed annuity sales overcame falling interest rates to post their second consecutive quarter-to-quarter increase. Beacon Research, which studies annuities, reports sales improved 8% from the prior quarter to $20.4 billion, and all but one product-type grew.
August 24, 2011
While Nero Fiddled…Regardless of your political persuasion, youre probably a little unhappy at the moment (the moment being Aug. 9).
August 24, 2011
North StarsConventional market wisdom has always dictated that investors who stick their necks out at a time of great crisis reap great rewards further down the line.