Economy & Markets
The important economic and stock market news that advisors need to know.
Shiller Warns of Double-Dip Home Price Drop, ‘New Recession’
By Marlene Y. SatterThe housing market is in for more losses, and that the bubble that preceded its unprecedented drop was "unique in U.S. history," Robert Shiller, Yale professor of economics and author of "Irrational Exuberance," said Thursday at Standard & Poor’s Housing Summit 2011: Boom, Bust and Beyond on Thursday.
June 08, 2011
Germany Puts Greek Debt Restructuring on TableIn a letter to European Union (EU) nations, German Finance Minister Wolfgang Schaeuble urged countries to make private bondholders contribute to Greece's impending debt relief arrangement.
June 08, 2011
World on U.S. Debt Default: ‘Frightening,’ ‘Huge Panic Globally’As wrangling in the U.S. Congress continues over the debt ceiling, with Republicans insisting that a taste of default could force the White House to cut spending, the rest of the world looks on in growing horror at the prospect.
June 08, 2011
State of Economy: ‘Things Aren’t Getting Worse,’ Says Milken’s DeVolMilken economist Ross DeVol says the economy can recover so long as price of Arab oil doesn't dramatically spike again.
June 07, 2011
FPA in China: Expectations Exceeded; Hospitality UnmatchedReflections on the FPA in China trip include Dan Moisand's musings on what he learned about China and its financial planners, and newfound appreciation for his own country.
June 07, 2011
PIMCO’s Bill Gross Loses Big on Lehman BondsLosses on certain Lehman bonds traded by PIMCO are estimated to exceed $3.4 billion.
June 07, 2011
IMF's Greece Debt Idea Might Not Fly With RatersThe IMF is considering granting Greece an extension on its loans, but some rating agencies are leery.
June 07, 2011
China Warning: Dollar Policy RiskyA top Chinese currency official's article caused the dollar to tumble in European trading on Tuesday. The article was removed from the website of a Chinese think tank and the official said his observations were purely personal.