Economy & Markets
The important economic and stock market news that advisors need to know.
S&P Cuts Japan’s Rating for First Time Since 2002; Euro Rises
By Marlene Y. SatterStandard & Poor’s cut Japan’s sovereign debt rating by one notch on Thursday, saying that the nation “lacks a coherent strategy” to cope with a debt level that it predicts will only peak in the mid-2020s.
January 26, 2011
Lehman Forced to Revise Bankruptcy Exit PlanAfter some creditors rejected Lehman Brothers' Chapter 11 proposals, the company revised its plan to exit bankruptcy, filing a new plan in New York, Bloomberg reported Wednesday.
January 26, 2011
Pound Up, Gilts Down After Reading of Bank of England MinutesWednesday’s release of the minutes of the Bank of England’s Monetary Policy Committee meeting saw a shift in how members regard the danger of inflation, as Martin Weale joined Andrew Sentance in voting for an increase of a quarter point this month. Sterling rose on the news, anticipating an increase...
January 26, 2011
A Portfolio Position Upgrade: FSCFifth Street Finance (FSC), a stock that I’ve mentioned several times in the past, was upgraded on Wednesday by Stifel Nicolaus from Hold to Buy.
January 26, 2011
Financial Crisis Commission's Final Report to Be Released ThursdayThe Financial Crisis Inquiry Commission (FCIC) is due to release on Thursday its final report on the causes of the financial and economic crisis. The New York Times reports that the FCIC concluded the financial crisis was avoidable.
January 26, 2011
Legg Mason Fiscal Q3: Profits Up 37% on Fees as Outflows PersistAsset manager Legg Mason announced Wednesday a 37% jump in profits for the third quarter of 2011, thanks to an increase in fees, but the firm also reported continuing outflows as investors sought to put their money somewhere other than mutual funds.
January 26, 2011
Obama's State of the Union: the Fighter Still RemainsObama's triangulation is all Clinton; his “big things” comment all JFK; two politicians far different from the current occupier of the oval office.
January 26, 2011
2010 Q4 Earnings: Piper Jaffray Tops Estimates on Strong SalesNet revenues for the investment bank’s capital-markets unit rose 18% in the quarter to $151 million.