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Hong Kong Stocks Rise, Led by Developers Before Land Auction
RPT-GLOBAL MARKETS-Asia shares jump, euro firms on Greece report
Asian shares jump on signs of US revival
Otmar Issing, one of the fathers of the euro, correctly states the principle on which the single currency was founded. As he wrote in the FT last week, the euro was meant to be a monetary union but not a political one. Participating states established a common central bank but refused to surrender the right to tax their citizens to a common authority. This principle was enshrined in the Maastricht treaty and has since been rigorously interpreted by the German constitutional court.
No, the title of this article is not the contents of an errant text message from a cell phone of a thirteen year old, but instead it’s actually a headline from last Friday’s market action. Invesco PowerShares debuted PCEF, the CEF Income Composite Portfolio, which based on our experiences and conversations with investment advisors, we believe will gain traction quickly as unique in its class.
Feb. 22 (Bloomberg) — The search for the next Greece is finding its way to an unlikely place: Japan.
Peoples biggest asset is their job, not their house. This bodes poorly for home prices.
The danger of playing with fertilizer is that it blows up in your face. Investors should take note given the recent frenetic takeover activity in the fertilizer industry. With corporate valuations looking stretched and a mixed outlook for underlying weather-sensitive fertilizer prices, well above their 2009 lows, the conditions look set for some volatility.
German business confidence unexpectedly fell for the first time in 11 months in February as the coldest winter in 14 years damped retail sales and construction.
Pacific Investment Management Co.’s Mohamed El-Erian says China is likely to adopt more market-based policies “within the next two years,” cementing the view of investors who are driving the Asian nation’s currency to its largest gains in a year.
The homebuilders have seen an impressive rally since March ‘09 lows, with ITB and XHB outpacing the S&P 500 by about 40%. It shouldn’t be a huge suprise since homebuilders took a beating in 2008, falling much more than the broad market indices before and during the crisis. However, they have contiuned to outpace the S&P 500 so far this year, with ITB up 9.76%, XHB up 5.24% and the S&P (SPY) down 1.5% (returns as of Feb. 19th). One has to wonder have homebuilders come too far too fast?
Harvard’s Rogoff Sees Sovereign Defaults, ‘Painful’ Austerity
Ballooning debt is likely to force several countries to default and the U.S. to cut spending, according to Harvard University Professor Kenneth Rogoff, who in 2008 predicted the failure of big American banks.