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Friday, April 5, 2013

Reuters Money: Weak job gains cast shadow on U.S. economic outlook

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04/5/2013
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
Weak job gains cast shadow on U.S. economic outlook
WASHINGTON (Reuters) - American employers hired at the slowest pace in nine months in March, a sign that Washington's austerity drive could be stealing momentum from the economy.
Exclusive: Some wealth advisers take a fee for clients' fund assets
(Reuters) - At least three wealth management firms that market themselves as objective financial advisers are getting payments for investing their clients' money in certain mutual funds, a practice that even some of these firms say could create conflicts of interest.
Labor "scarring" reason for more bond buying: Fed official
(Reuters) - The Federal Reserve should continue buying bonds through this year due to a "scarring" of the labor market, and even more aggressive policies may be warranted if unemployment remains persistently high, a top Fed official said on Friday.
Puerto Rico approves public pension system overhaul
SAN JUAN (Reuters) - Puerto Rico Governor Alejandro Garcia Padilla has signed an overhaul of the U.S. territory's cash-short public pension fund into law, after it was passed by lawmakers late on Thursday in a bid to soothe investors and shore up the country's sputtering economy.
Analysis: Big inflows into bonds undercut the "Great Rotation"
(Reuters) - Fears of a rush for the exits from the U.S. bond market have been greatly exaggerated.
As jobs go, banks become better bets
NEW YORK (Reuters) - For a business whose main products fetch record prices, the financial services industry sure is firing a lot of people.
Sequester falsely pits "greedy geezers" against the young
CHICAGO (Reuters) - Call it the myth of the greedy geezer - an argument keeps popping up in Washington that old people have it too good, and that entitlement spending is squeezing out programs for the young and the needy. We can maintain our current spending on programs like Social Security, or we can have Head Start - but we cannot do both.
As yields dwindle, "cash" fund investors take on more risk
NEW YORK (Reuters) - A hunt for higher yields by risk averse investors is helping spark a resurgence in funds that can invest more broadly and take bigger risks than strictly regulated money market funds.
A tale of two Japan stocks ETFs; hedging makes a big difference
NEW YORK (Reuters) - U.S. investors in two big funds that track Japanese stocks got a good lesson in the importance of currency hedging on Thursday.
How banks and funds are gaming money markets in India
MUMBAI (Reuters) - Banks and mutual funds in India are earning abnormally high returns in money markets by breaching central bank rules forbidding forward trades, multiple people involved in the practice said, undermining the effectiveness of monetary policy in the process.
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Weak job gains cast shadow on U.S. economic outlook
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