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02 January 2013
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  • Many Americans will pay higher taxes in 2013 despite deal
    The budget bill that would avert the "fiscal cliff" will preserve Bush-era tax cuts for many middle-class Americans, but other taxes will go up in 2013. A temporary reduction in employees' contribution to Social Security will end and the average household will pay an extra $1,000 this year. The income tax rate of individuals making more than $400,000 a year and of couples whose combined income is greater than $450,000 will rise to 39.6% from 35%. CBS MoneyWatch (01 Jan.) LinkedInFacebookTwitterEmail this Story
  • North Korean leader calls for an end to Korean conflict
    North Korean leader Kim Jong-un said in a New Year's Day speech that the confrontation between the two Koreas should end. "An important issue in putting an end to the division of the country and achieving its reunification is to remove confrontation between the north and the south," he said. It was the first New Year's speech by a North Korean leader in 19 years. Reuters (01 Jan.), Yonhap News Agency (South Korea) (01 Jan.) LinkedInFacebookTwitterEmail this Story
Morningstar Direct: Asset Allocation for a Non-Normal World Forget “black swans”; it’s more like a flock of black turkeys. Extreme events happen with regularity across asset class. Traditional MVO cannot take that into account. Download our webinar on new approaches with Dr. Paul Kaplan, CFA.
  Market Activity 
  • Asian-Pacific markets rally after U.S. reaches budget deal
    Asian-Pacific markets rose Wednesday after the U.S. House of Representatives approved a bill averting the "fiscal cliff." Hong Kong's Hang Seng Index climbed 2.9%. Australia's S&P/ASX 200 added 1.2%. South Korea's Kospi increased 1.7%. Taiwan's Taiex gained 1%. India's Sensex was up 0.7% at midafternoon. Markets in China and Japan remained closed for the holiday. MarketWatch (02 Jan.), The Economic Times (India) (08 Jan.) LinkedInFacebookTwitterEmail this Story
  • Italian and Portuguese bonds rally
    Bonds issued by Italy and Portugal rallied last year as debt sold by eurozone governments enjoyed their best performance in history. Gains in Italian and Portuguese debt marked a sharp reversal from 2011, their worst year on record. Bloomberg (31 Dec.), CNNMoney (28 Dec.) LinkedInFacebookTwitterEmail this Story
  • IPO market appears headed into slump
    Fewer initial prospectuses filed with the Securities and Exchange Commission in the second half of 2012 suggest a slowdown in initial public offerings this year. Financial markets have become less receptive to emerging companies, market observers say. CNBC (31 Dec.) LinkedInFacebookTwitterEmail this Story
  • European corporate-credit markets rebounded in 2012
    The European Central Bank's unyielding stand behind the euro and open spigots on funding lifted 2012's corporate-credit markets to their best year since 2009. "The man of the year for the bond market has to be [ECB President] Mario Draghi," said Chris Iggo, chief investment officer for fixed income at AXA Investment Managers. Bloomberg (31 Dec.) LinkedInFacebookTwitterEmail this Story
India Investment Conference | 11 January 2013
Hear the world-class experts at our conference, "India and the New Financial Order", an event jointly organised by CFA Institute, the Indian Association of Investment Professionals and the National Institute of Securities Markets.

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  Economics 
  • Major economies have less debt to refinance this year
    The Group of Seven nations, combined with Brazil, India, China and Russia, will have $220 billion less debt that requires refinancing in 2013. The decrease comes as bond markets rally in all major economies for the first time since 2008. Bloomberg (02 Jan.) LinkedInFacebookTwitterEmail this Story
  • Analysis: Reasons to worry in slow U.S. recovery
    Despite consistent growth during the past several years, the U.S. economy is recovering slowly, causing concern. The 2% growth of the past several years might indicate that the economy had lost growth potential even before the recession, or that government policy is lengthening the recovery instead of hastening it. The Wall Street Journal (01 Jan.) LinkedInFacebookTwitterEmail this Story
  Geopolitical/Regulatory 
  • U.S. and banks reportedly near $10B foreclosure deal
    U.S. regulators and banks are hammering out an agreement to end a drawn-out process of examining thousands of foreclosure cases for mistakes, sources say. The settlement could cost banks $10 billion, but both sides say the review is too expensive and not providing enough relief. The Wall Street Journal (31 Dec.) LinkedInFacebookTwitterEmail this Story
  Ethics 
  • Brazil gets serious about political corruption
    Brazilians are enjoying the rare sight of corrupt politicians being tried, convicted and sentenced to lengthy prison sentences and big fines, according to The Economist. "The supreme court must still write its report on the trial, and hear appeals -- though it is unlikely to change its mind," the magazine notes. "So in 2013 Brazilians should be treated to an unprecedented sight: well-connected politicos behind bars." The Economist (free content) (22 Dec.) LinkedInFacebookTwitterEmail this Story
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