While cookouts and fireworks were certainly on our mind last week here in the US, we still kept an eye on the news. Here’s our roundup of top stories that we’ve read in between all of the celebrations:
After the Federal Reserve ended QE2 last week, many investors are now wondering what’s next for the U.S. economy for the rest of 2011. You can watch the experts debate what they think is next for QE2 by viewing our recent webinar. The good news, however, is that after two years of rapid decline, the dollar is now entering an uptrend, gaining against every major currency. In other news, the 2011 World Wealth Report that was recently released displays the staggering estimate that in 2010, 103,000 people out of 7 billion on the planet controlled 36.1 percent of the world’s wealth. Additionally, the report shows that hedge funds are no longer a favored alternative investment among the class of high net worth individuals. On the international front, the euro continues to weaken as interest rates rise, and China has begun to expand foreign exchange reserves using non-U.S. dollar assets – a sign that investment in the yuan may be on the rise.
- Picking the Brains of the Super-Rich, and Picking Up Tips, The New York Times, June 24, 2011
- The Dollar Rebound and What It Means to the Market, Seeking Alpha, June 26, 2011
- Euro Sustained in Widest Rate Gap Since '09 as Greeks Vote, Bloomberg BusinessWeek, June 27, 2011
- China Moves Away From the U.S. Dollar; Invest in the Yuan, Seeking Alpha, June 27, 2011
- Why High Net Worth Individuals Are Running Away From Hedge Funds, Business Insider, June 30, 2011
- As QE2 ends, market debates Fed's next move, Reuters, June 30, 2011
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