http://news.morningstar.com/articlenet/article.aspx?id=536868budget alarm unnerved muni bond market
http://www.onwallstreet.com/news/muni-bond-market-reacts-to-obama-budget-proposal-2677358-1.html?ET=onwallstreet:e5807:2131761a:&st=email&utm_source=editorial&utm_medium=email&utm_campaign=OWS_Daily__021412when bond ETPs don't make distributions
http://etfdb.com/2012/when-bond-etps-dont-make-distributions/is there a bubble in dividend ETFs
http://www.etftrends.com/2012/02/is-there-a-bubble-in-dividend-etfs/?utm_source=iContact&utm_medium=email&utm_campaign=ETF Trends&utm_content=RBC wealth investment weekly commentary:
RBC Wealth Management
Michael D. Ruccio, AAMS
Senior Vice President
25 Hanover Road
Florham Park, NJ 07932-1407
(p) (866) 248-0096
(f) (973) 966-0309
[email protected]www.rbcwm-usa.com
Market Week: February 13, 2012
The Markets
Concerns about whether Greece would fulfill the conditions necessary to obtain a second bailout brought on the first down week of 2012 for the domestic equities indices (except for the Dow, which had a down week in late January). Meanwhile, 10-year Treasury yields remained relatively stable as investors continued to seek out bonds.
Market/Index 2011 Close Prior Week As of 2/10 Week Change YTD Change*
DJIA 12217.56 12862.23 12801.23 -.47% 4.78%
Nasdaq 2605.15 2905.66 2903.88 -.00% 11.47%
S&P 500 1257.60 1344.90 1342.64 -.17% 6.76%
Russell 2000 740.92 831.11 813.33 -2.14% 9.77%
Global Dow 1801.60 1976.98 1964.70 -.63% 9.05%
Fed. Funds .25% .25% .25% 0 bps 0 bps
10-year Treasuries 1.89% 1.97% 1.96% -1 bps 7 bps
*Equities data reflect price changes, not total return.
Last Week's Headlines
Greece's coalition government reached an agreement on austerity measures needed to receive the second bailout from its peers, and at the insistence of the eurozone's finance ministers, the agreement was approved by the full Greek parliament. To protest the measures, Greece's unions called a 48-hour strike over the weekend and demonstrators took to the streets.
Five major banks will pay $26 billion to settle a suit by 49 state attorneys general and federal officials over faulty foreclosure procedures, and nine other financial institutions are also in negotiations over the same issue. According to the agreement, $17 billion will be used over the next three years to assist homeowners, and 60% of that amount will help reduce principal on qualifying mortgages.
According to the Commerce Department, higher imports of autos, auto parts, and industrial machinery helped push the U.S. trade deficit to $48.8 billion, the highest level since June. Imports rose 1.3% while exports were up 0.7%.
Eye on the Week Ahead
European economic growth data and Wednesday's meeting of eurozone finance ministers, when final approval of the newest Greek bailout is expected in the wake of last weekend's parliamentary vote, will be a focus of attention. Domestic data on inflation, manufacturing, and housing also will be watched.
Key dates and data releases: retail sales, business inventories (2/14); Empire State manufacturing survey, industrial production, Federal Open Market Committee minutes, international capital flows (2/15); housing starts, wholesale inflation, Philadelphia Fed survey (2/16); consumer inflation, index of leading economic indicators, options expiration (2/17).
Comments
http://www.cnbc.com/id/46367194
MF managers upbeat on Global stocks/world economy
http://www.utsandiego.com/news/2012/feb/14/mutual-fund-managers-upbeat-world-economy/