Economy & Markets
The important economic and stock market news that advisors need to know.
Draghi to Replace Trichet as ECB Chief
By Marlene Y. SatterDraghi of Italy will assume his new post in October when he takes over from outgoing President Jean-Claude Trichet.
June 23, 2011
Bob Reynolds on Putnam Turnaround, Next Steps—Weekend InterviewPutnam engineered a remarkable turnaround with the right people, the right products, the right compensation and now a focus on retirement income, Reynolds said.
June 23, 2011
Fidelity Launches TDF-Like Muni FundsBoston mutual fund behemoth Fidelity Investments announced Wednesday it launched the Fidelity Defined Maturity Funds, a series of four municipal income funds, each with a defined maturity date.
June 23, 2011
BondDesk Rolls Out BondWorks PlatformBondDesk's Chris Shayne says the revised BondWorks fixed-income retail trading platform is akin to going from a flip phone to a smart phone.
June 23, 2011
Morgan Keegan to Pay $200 Million Over Bond Fund AllegationsMorgan Keegan & Company will pay $200 million to settle allegations of exaggerated claims, failures in supervision and undisclosed investment risks, the Financial Industry Regulatory Authority announced Wednesday.
June 22, 2011
CBO: National Debt on Track to Nearly Double GDP in 25 YearsThe nation is on a course to a “sudden fiscal crisis” if policymakers, like Rep. Paul Ryan and President Barack Obama, fail to take measured steps to halt the growing debt burden, the CBO said Wednesday.
June 22, 2011
Fed Leaves Rates Unchanged; No Plans for QE3The Fed announced that it is making no change to U.S. interest rates. In addition, it has no plans for a QE3 when QE2 ends on June 30.
June 22, 2011
El-Erian of PIMCO Predicts Greece, Others Will DefaultMohammed El-Erian, head of PIMCO, said Wednesday that Greece and other European economies would default on their debts as a means of solving their problems.