Economy & Markets
The important economic and stock market news that advisors need to know.
ECB Official to Irish Taxpayers: Pay Up and Stop Whining
By Marlene Y. SatterIn an opinion piece published on Tuesday in The Financial Times, Lorenzo Bini Smaghi, a member of the board at the European Central Bank, wrote that Irish taxpayers should not complain about having to foot the bill to bail out their banks.
April 12, 2011
AdvisorOne’s 2011 Q1 Earnings Calendar for Financial SectorAdvisorOne presents a calendar marking expected first-quarter 2011 earnings dates for firms of greatest interest to financial advisors.
April 12, 2011
J.P. Morgan’s Kelly: Optimism on U.S. Economy in Q2David Kelly, market strategist and managing director at J.P. Morgan Asset Management, spoke Tuesday about the outlook for Q2 in a webcast titled, "Q2 2011 Economic and Market Outlook: Out of Recession but Out of Sync."
April 12, 2011
Drivers Cutting Back as Gas Prices RiseDrivers bought about 2.4 million fewer gallons for the week of April 1, a 3.6% drop from last year, according to MasterCard SpendingPulse, which tracks the volume of gas sold at 140,000 service stations nationwide.
April 12, 2011
Congress Moves Budget Vote to Thursday; SEC, CFTC See Budget BoostThe House and Senate are scheduled to hold votes on a final budget agreement in the form of a Continuing Resolution that would fund the government until Sept. 30 and cuts more than $38 billion in federal spending.
April 12, 2011
PIMCO's Gross Reduces Government Related InvestmentsPIMCO's $236 billion Total Return Fund reduced its share of U.S. government debt to minus 3% in March, while increasing its cash and cash equivalents to 31%, its highest percentage in four years.
April 12, 2011
Greek Bond Sale Sees Demand, Yield Slightly Higher Post-BailoutTuesday’s auction by Greece of some 1.63 billion euros ($2.35 billion) in 6-month T-bills, while presenting slightly higher yields than its last auction in March, also drew more interest from foreign investors and somewhat higher demand.
April 12, 2011
After Trichet, ECB Chief Is Likely to Be Italy’s DraghiThe announcement by Axel Weber in February that he was withdrawing his name from consideration as the next head of the European Central Bank opened the field to other candidates, but as time has passed Mario Draghi, head of Italy’s central bank, has emerged as the strongest of those.