By David Gaffen
(Reuters) – Wall Street traders and fund managers have opinions on almost everything – from politics to religion to the price of a spectacular bottle of wine. But ask about this Sunday’s Super Bowl matchup between the New York Giants and the Boston-backed New England Patriots, and they’re suddenly far from loquacious.
Even if they’re Dan Fuss, one of the most respected fund managers in the country. Fuss isn’t exactly in danger of losing his position, but wasn’t keen to get chatty about American football’s big championship game, which is annually the most-watched televised event in the United States.
By David Gaffen
(Reuters) – Global bond market funds were the biggest winner in 2011, as investors seeking safety poured more than $110 billion into fixed-income funds, according to data from fund tracker EPFR Global released on Friday.
U.S. bond funds had the single largest amount of inflows as tracked by EPFR, at $62.3 billion, a good thing for investors who responded to the year’s volatility by staying away from stocks and commodities.
By David Gaffen
(Reuters) – Should the euro zone debt crisis drag the continent into a recession, states and regions in the United States would not be immune to the fallout across the Atlantic, a report said on Wednesday.
Europe is a significant trading partner with the United States, particularly states such as New York, California and Texas, the three most populous – and among the largest issuers of municipal debt – in the country.
NEW YORK (Reuters) – The EU summit is on. No, wait, it’s off. No, hold on, the summit is on, and what’s more, now there are two of them.
The daily headlines out of Europe are enough to make a long-term investor’s head spin and more importantly, to keep them out of the market altogether.
NEW YORK (Reuters) – One day after Pennsylvania’s state capital filed for bankruptcy, the city lawyer handling the case defended against allegations the move was illegal.
Harrisburg is one of a handful of municipalities that has flirted with bankruptcy in the wake of the Great Recession that devastated budgets in state and local communities. Some say it could become a touchstone for whether other cities will follow this path to extract concessions from creditors and others.
NEW YORK (Reuters) – Oil prices slipped and world stocks rose on Monday above recent 11-month lows on hopes the conflict in Libya could be ending as energy shares higher after last week’s equity market selloff.
U.S. stocks jumped at the open, led by Exxon Mobil Corp, which rose 2 percent. Investors, however, offset buys of risky assets by continuing to buy gold. Persistent worries that the sovereign debt crisis in euro zone peripheral countries may spread to bigger economies in the region encouraged flows into gold, pushing it to another record high.
NEW YORK (Reuters) – After the terrible rout in markets on Thursday investors spoke of holding fast and even poking around for buying opportunities, but that’s hard when the market is likely facing another weak U.S. jobs report on Friday.
Markets’ sentiment has swung dramatically in the last few days as investors price in another recession and an unsuccessful battle by euro zone politicians to halt an expanding sovereign debt crisis.
NEW YORK (Reuters) – U.S. stock futures jumped and the dollar rebounded in a sign of relief that U.S. lawmakers were moving closer on Sunday to a deal that would allow the country to continue to borrow money and head off a devastating short-term default.
The Swiss franc, the favored safety currency during this crisis, pulled back from record highs against the dollar, and gold slipped off all-time peaks.
NEW YORK, July 24 (Reuters) – U.S. stock futures fell and
gold hit a new record on Sunday as Washington was no closer to
raising the U.S. debt ceiling to avert a devastating default.
The decline in equity futures points to a poor open for U.S.
markets and shows investors are getting increasingly worried
about the failure of legislators to coalesce around one approach
that will resolve the stalemate that is unnerving investors.
NEW YORK (Reuters) – Wall Street futures fell and the dollar dropped as Washington appeared no closer to raising the debt ceiling in order to avert a devastating default.
S&P 500 futures fell at the open of electronic trading as investors grew increasingly worried at the lack of progress. The benchmark S&P was down 1 percent, or 14 points, to 1326.00.