Yes, Germany and Greece have been in a war of words in the unfolding crisis over the latter’s membership in the euro zone, but this afternoon the two nations face off in a different (and far more entertaining) way: they go head-to-head in the European Championship quarterfinal.
So there’s this election this Sunday in Greece and everyone–who follows the markets–is all excited. But at the end of the day, the main reason people in the markets are all up in arms is because they want to know who will get paid, in what order and most important–how much. Sadly, there’s too little focus on whether the right people/institutions are getting paid; let alone issues of social dignity and the quality of human existence. Guess that’s what the markets are all about, right?
ConocoPhillips, the third-largest U.S. oil company, said it might double its planned sale of less-desirable assets to $20 billion, with proceeds going to buy back stock.
With the euro zone facing a fiscal deficit nightmare, passive bond investors have been forced to think hard about whether following a simple market cap-weighted benchmark is a good idea. Traditional bond indices have the biggest weighting to the largest borrower — so investors end up lending more money to those desperate to borrow it.
News and views on the funds sector from Reuters and elsewhere:
Pru faces shareholder revolt over Asian deal – Reuters
Goldman Sachs traders face U.S. Senate – Telegraph
News and views on the fund sector from Reuters and elsewhere: