Our Two Cents – Week of 2/21/12
While many Americans enjoyed a restful holiday weekend, financial officials in Greece busily discussed and ultimately approved the nation’s new rescue plan.
Eurozone finance leaders agreed to the $172.1 billion rescue deal for Greece—a plan that would have the country’s private creditors take larger losses than previously agreed. The package could help Greece reduce its government debt from about 160 percent to about 120 percent by 2020. Greek Prime Minister Lucas Papademos called the agreement “historic,” giving his country a new economic lifeline.
Here in the U.S., economic confidence resounded. According to a new Pew Research Center poll, almost half of all Americans expect the economy to be better by 2013. Also, according to a new CBS News/New York Times poll, as many as 34 percent of Americans say the economy is getting better—up from 28 percent who thought so a month ago. One of the factors for an improved economy is jobs. Jobless claims fell to a new low, now at 348,000, and retail sales grew by 0.4 percent. In the institutional arena, hedge funds, commodity trading advisors and private equity funds are expected to increase allocations in 2012, according to an AlphaMetrix survey.
While we were reading the world’s biggest financial headlines, Currensee itself received some ink. FINalternatives profiled the Trade Leaders Investment Program, speaking with our CEO Dave Lemont. The publication said Currensee is aiming to “revolutionize money-under-management CTA world.”
- Q&A: Currensee Aims To Revolutionize Money-Under-Management CTA World, FINalternatives, Feb. 21, 2012
- Greece Faces Hurdles After Deal, Wall Street Journal, Feb. 21, 2012
- Hedge Fund Redemptions Rise In February, FINalternatives, Feb. 21, 2012
- Poll: Economic optimism gets a bounce, Politico, Feb. 16, 2012
- Survey: Hedge Fund Allocations to Rise in 2012, HedgeCo, Feb. 15, 2012
- US Retail Sales Grow Slowly, Forex Crunch, Feb. 14, 2012
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