As the U.S. sets records for natural gas production, the specter of shortages and surging prices has been replaced by a debate over how much to sell overseas. The bounty has fueled speculation President Barack Obama is ready to expand exports.
You don’t have to examine America’s retirement safety net too closely to realize it has massive holes in it. Close to 60 percent of Americans have less than $25,000 in household savings, according to the Employee Benefits Research Institute, and 31 percent of retirees have less than $1,000. Meanwhile, financial advisers recommend having about 12 times your current salary saved to retire comfortably.
Plunging gold prices and the biggest drop in five months for U.S. equities presents an opportunity to increase holdings of stocks as economic and profit growth remain intact, according to money managers at Well Fargo and BPI Asset Management Inc.
Investors are “finally” acknowledging the risks of holding corporate bonds with yields hovering at about record lows as the Federal Reserve holds benchmark interest rates at close to zero for a fifth year, according to Pacific Investment Management Co.
Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest bond fund, said asset-price irrationality is rising after years of record low benchmark interest rates by the Federal Reserve.
Chinese equities fell in New York, pushing the benchmark index to its biggest slump in three weeks, on concern a standstill in the U.S. budget talks will crimp demand for the Asian nation’s exports and hamper its recovery.
Treasuries are falling in 2013 while high-yield bonds and stocks set records, reflecting demand for riskier assets as the Federal Reserve promises to stick to its program of quantitative easing to spur growth.