Georgia requested information from UBS, Morgan Stanley and Ameriprise Financial in its probe over whether the firms broke the state's securities laws in sales of structured notes called reverse convertibles.
Pacific Investment Management Co.'s Neel Kashkari said investors should buy equities because valuations, income growth and dividends show the asset class is attractive.
S&P assigned AA+ scores to about 11,500 securities in the $2.9 trillion municipal bond market, including school-construction bonds in Irving, Texas; debt backed by a federal lease in Miami; and a bond series for multifamily housing in Oceanside, Calif.
Lobbying in favor of a self-regulatory organization for investment advisers has gained momentum, with a major insurance organization calling on Congress to authorize Finra the to do the job.
Bill Gross, founder of Pacific Investment Management Co., said President Barack Obama's plan to stimulate the economy with more than $300 billion in tax cuts and spending is inadequate.
Speculative demand from investors has pushed the gold market into a “bubble that is poised to burst.” Wells Fargo & Co. rings the "warning bell."
U.S. stocks are likely to extend declines because hedge funds have leeway to boost bets against the world's largest equity market, according to Bank of America Corp.'s Mary Ann Bartels.
Pimco's Bill Gross said Bank of New York Mellon Corp.'s decision to charge clients for large deposits shows how the government's efforts to revive the economy are distorting markets and hurting savers.
Nobel-prize winning economist Joseph Stiglitz said the chances of the U.S. economy going back into recession are “very high,” as unemployment and austerity talk point to a double dip.
Pessimism about U.S. stocks among 120 investment newsletter writers increased the most since July 2007, a bullish signal to analysts who track investor sentiment as a contrarian indicator of share performance.