Underperformance is ‘abysmal’ in the long run for active fund managers

The S&P 500 may be trading around 2022 lows, but a new report finds active managers are having their best year since 2009. The numbers suggest they still have a long way to go, though. S&P Global recently published its Mid-Year 2022 SPIVA U.S. Scorecard, which measures how well U.S. actively managed funds perform against … Read more

Americans are suffering from financial burnout

A recession is a very real possibility. As the Federal Reserve aggressively raises rates to combat persistent inflation, the tough stance could come at a price. Already, falling stock markets have wiped out more than $9 trillion in wealth from U.S. households. Fed Chairman Jerome Powell also warned the central bank’s upcoming moves to fight soaring prices may … Read more

What to Do With Leftover Foreign Currency After Your Trip

Photo: Ton Anurak (Shutterstock) When you’re packing for your trip, you may be thinking about the best ways to get foreign currency to spend while you’re traveling, but you’re probably not thinking about what to do with your leftover bills and coins when you come home. The last thing you want to have to do … Read more

Something big could be about to break in markets

US Federal Reserve Board Chairman Jerome Powell pauses during a news conference in Washington, DC, on September 21, 2022. Saul Loeb | AFP | Getty Images I wrote about the action of central bankers last week, suggesting that the rapid increase in interest rates, led by the U.S. Federal Reserve, would lead to a meaningful … Read more

Is the UK now a buy? Analysts weigh in after market meltdown

A security guard stands outside the London Stock Exchange building on December 29, 2020. Tolga Akmen | AFP via Getty Images U.K. bond markets and the pound went into freefall this week as investors balked at the new government’s fiscal policy announcements, and some analysts believe opportunities are arising. The Bank of England on Wednesday … Read more

Jobless claims hit five-month low despite Fed’s efforts to slow labor market

A person arranges groceries in El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., August 19, 2022. Sarah Silbiger | Reuters Initial filings for unemployment claims fell last week to their lowest level in five months, a sign that the labor market is strengthening even as the Federal Reserve is trying to slow … Read more

Erdogan says Turkey will keep cutting interest rates, mocks British pound

Turkish President Tayyip Erdogan addresses members of his ruling AK Party (AKP) during a meeting at the parliament in Ankara, Turkey May 18, 2022. Murat Cetinmuhurdar/Presidential Press Office/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. NO RESALES. NO ARCHIVES. MANDATORY CREDIT Murat Cetinmuhurdar | Reuters Turkey will keep cutting interest rates, … Read more

UK PM Liz Truss defends tax cuts, vows to press on

U.K. Prime Minister Liz Truss announces a financial package to support people with energy bills. Dan Kitwood / Staff / Getty Images LONDON — British Prime Minister Liz Truss on Thursday defended the fiscal policies announced last week which sparked chaos in U.K. markets, saying the country had been put on a “better trajectory.” Speaking … Read more

Pension fund panic led to Bank of England’s emergency intervention

The Bank of England on Wednesday launched a historic intervention in the U.K. bond market in order to shore up financial stability, with markets in disarray following the new government’s fiscal policy announcements. Bloomberg | Bloomberg | Getty Images LONDON – The Bank of England launched a historic intervention to stabilize the U.K. economy, announcing … Read more