Economy & Markets
The important economic and stock market news that advisors need to know.
U.S., Europe Debt Woes Worry Asia
By Marlene Y. SatterChina and Japan, the former in particular with its huge U.S. debt holdings, are watching the political circus and wondering whether the safety nets will hold. If not, repercussions could be severe, not just for Asia but for the U.S. and euro zone as well.
July 18, 2011
Emerging Markets Expected to Outperform Developed Markets: PIMCOA commentary released Monday by PIMCO asks, “Are emerging markets ready to lead the global economy?”
July 18, 2011
European Bank Stocks Crash After ‘Bankmageddon’ on FridayTraders, analysts find bank stress tests to be lacking in credibility.
July 18, 2011
Doubleline's Gundlach Weighs In on Debt Ceiling DebacleGundlach, hosting a conference call last week titled “Now What?”, made predictions on a variety of economic issues from the debt ceiling debate swirling around Washington.
July 18, 2011
Top Portfolio Products: AdvisorShares, Cousteau Develop ETF; Van Eck Introduces Closed-End Municipal Bond ETFNew products introduced in July include a socially responsible ETF from AdvisorShares and a closed-end municipal bond ETF from Van Eck, as well as a guaranteed income annuity from New York Life and a China currency bond fund from Guinness Atkinson.
July 18, 2011
Germany’s Merkel Calls for Greek Debt Buy-Back, SwapAs pressure mounted to come up with a solution to the Greek debt crisis, German Chancellor Angela Merkel called for private investors to kick in. Strategies being discussed include several options, such as a repurchase of bonds or a swap in which they are exchanged for cuts in face value.
July 18, 2011
Obama Bypasses Warren for CFPB, Naming CordrayAfter many months of speculation over who President Barack Obama might choose to run the Consumer Financial Protection Bureau (CFPB) that Elizabeth Warren set up, the wait is over. On Sunday, Obama chose former Ohio Attorney General Richard Cordray to take the top spot.
July 15, 2011
8 European Banks Fail Stress TestsStress tests on European banks revealed that eight failed, fewer than expected.