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Thursday, January 3, 2013

Reuters Money: Looking past the fiscal cliff rally

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01/3/2013
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Looking past the fiscal cliff rally
NEW YORK (Reuters) - The Standard and Poor's 500 index surged more than 2.5 percent Wednesday, but any rally could be short-lived with workers facing smaller paychecks and expected volatility ahead of a debate on the U.S. debt ceiling debate, fund managers and analysts said.
Consumers paying down debt despite obstacles: ABA
(Reuters) - Consumers continued to pay down debt in the third quarter of 2012, but slow job growth and the expiration of a tax cut could mean it will become more difficult to repay loans, the American Bankers Association said on Thursday.
Stern Advice: The cliff deal and your wallet
WASHINGTON (Reuters) - Carry on, everyone. That's the first takeaway from the fiscal-cliff-averting tax deal struck literally in the eleventh hour on Tuesday.
U.S. economy to row against austerity tide in 2013
WASHINGTON (Reuters) - Washington has steered clear of severe austerity measures for now, reducing the risk of recession, but a clutch of U.S. tax hikes will nevertheless be a drag on economic growth this year.
DoubleLine launches stock management division
NEW YORK (Reuters) - DoubleLine Capital LP, the $53 billion firm run by star bond investor Jeffrey Gundlach, said on Wednesday it is now managing stock portfolios in a new division called DoubleLine Equity LP.
The speculator republic: James Saft
(James Saft is a Reuters columnist. The opinions expressed are his own.)
Global banks rethink Middle East model as deals slump
DUBAI (Reuters) - When U.S. banking giant Citigroup Inc moved one of its top bankers, Alberto Verme, to Dubai in 2008, it was a sign of international banks' ambitions to tap economic growth in the oil-rich region.
Passage of bill to avoid "cliff" should bolster Wall Street
NEW YORK (Reuters) - U.S. stocks are poised for gains to begin the year after the late passage of a bill to avoid harsh tax hikes that would have hit most Americans and crimped economic growth.
Analysis: "Fiscal cliff" deal called a dud on deficit front
WASHINGTON (Reuters) - In the controversy surrounding the "fiscal cliff" issue, it's easy to forget that the origin of the entire debate was a professed desire to reduce swollen federal deficits.
Stern Advice: Financial to-do list for 2013
WASHINGTON (Reuters) - Make resolutions if you must: When you vow to track every dollar and never waste money again, you feel all clean and shiny for at least a few hours into the new year.
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