Economy & Markets
The important economic and stock market news that advisors need to know.
Oil Prices a Drag on Economy Despite Encouraging Signs: J.P. Morgan's Kelly
By Danielle AndrusDavid Kelly, chief market strategist of J.P. Morgan Funds, hosted a call on Wednesday to address rising oil prices and political turmoil in the Middle East.
March 03, 2011
ECB Keeps Interest Rates Steady, but May Toughen Inflation TalkThe European Central Bank declined to raise interest rates on Thursday, keeping them at 1% despite an inflation rate within the euro zone that has risen above 2.4%.
March 02, 2011
Roubini Firm Predicts Muni Bond Bust Spread Over 5 YearsRoubini Global Economics issued a report on Monday that theorized muni bonds were in for a fall—a big fall, to the tune of some $100 billion—over the next five years, as state and local governments default on obligations.
March 02, 2011
Mr. Dodd Goes to Hollywood: Dodd-Frank Co-Author Takes Movie JobFormer U.S. Sen. Chris Dodd—co-author of the Dodd-Frank financial reform bill—has taken up a new position as head of the Motion Picture Association of America.
March 02, 2011
Fed Beige Book: Economy Expands, Hiring Picks UpThe U.S. economy expanded in January and early February in all parts of the country, but businesses reported they are under pressure to raise their prices.
March 02, 2011
Senate Sends Obama Stopgap GOP Spending BillThe Senate on Wednesday sent President Barack Obama a Republican-drafted stopgap funding bill that trims $4 billion from the budget, completing hastily processed legislation designed to keep partisan divisions from forcing a government shutdown.
March 02, 2011
Putnam Announces New Fixed Income TeamWilliam Kohli, Michael Salm and Paul Scanlon—who have a combined 40 years of experience at Putnam—will co-head the firm’s fixed income team of over 60 investment professionals who manage nearly $60 billion.
March 02, 2011
Turkey Bonds at Risk Over Mideast TensionsOil-importing nation Turkey has seen the value of its debt fall, and the cost of maintaining it rise, as worries about Middle Eastern/North African unrest escalate.