Economy & Markets
The important economic and stock market news that advisors need to know.
Soros Dumped Gold in Q1; Price Rising Once More
By Marlene Y. SatterAccording to 13-F filings with the SEC, billionaire George Soros dumped nearly all his holdings in gold in the first quarter of 2011, after calling it "the ultimate bubble." However, on Wednesday gold halted three days of losses to head back up, as investors sought to buy on the dips.
May 17, 2011
Strategists Kelly, Doll, Ryan Bullish on U.S.: IMCA ConferenceThree prominent investment strategists offered good tidings of positive U.S. market performance for the balance of the year. David Kelly of JP Morgan Funds, Robert Doll of BlackRock and Michael Ryan of UBS Financial Services buoyed an audience of financial advisors on the second day of IMCA’s annual meeting in...
May 17, 2011
End of QE2? Not a Problem, Say ING Investment Management CIOsThe end of QE2 does not mean the end of the party for credit and the expansion will stay on track, say ING Investment Management fixed-income CIOs.
May 17, 2011
El-Erian on Strauss-Kahn Arrest: Global Risks ‘Definitely Higher’The co-CEO of PIMCO says the arrest of the Frenchman chief has left a leadership vacuum at the IMF.
May 17, 2011
EU Says Greek Restructuring PossibleThis was the first official acknowledgment that such an action might occur, and it was met with swift resistance from other euro zone officials. The effect on European banks and the European Central Bank (ECB), which all hold substantial amounts of Greek debt, would be huge. American banks also hold...
May 17, 2011
Andrew Friedman Says Deficit Will Push U.S. Into Grim Economic FutureAddressing an elite audience of financial advisors at the IMCA conference on the day the U.S. government hit its debt ceiling, Friedman, an expert on government affairs, told a grim tale of rapidly deteriorating public finances amid political gridlock in Washington.
May 16, 2011
MSRB Adds Transparency for Variable Rate MunisMuch more detailed data on auction rate securities and other variable rate issues is now available on MSRB’s EMMA website
May 16, 2011
Yale’s Robert Shiller Says Confidence Crisis Hampers Economy: IMCA ConferenceTrying to explain the worst economic crisis since the Great Depression, Shiller — best known as co-creator of the Case-Shiller Home Price Index — told an audience of some 2,000 financial advisors meeting in Las Vegas that a lack of confidence lies at the root of current economic weakness.