Bond king Bill Gross says it's time for individual investors to get used to a new (and slower) dance.
In his monthly investment outlook letter, the founder of Pimco and manager of the world's largest bond fund, Pimco Total Return Fund (PTTRX), wrote that the age of credit expansion that led to double-digit portfolio returns is over, and the age of inflation has begun.
And that means investment returns from both stocks and MOREHibah Yousuf - Sep 5, 2012 2:07 PM ET
Spanish banks reported a sharp drop in deposits during July, but analysts say fears of a massive capital flight from the country may be overblown.
In July, bank deposits in Spain declined by €74 billion, which is equal to about 5% of all deposits in the country, according to data from the European Central Bank.
Some analysts viewed the drop as evidence that Spanish households and businesses were frantically pulling money out MOREBen Rooney - Sep 5, 2012 10:09 AM ET
The market was mostly lower on yet another sleepy August day of trading. But bank stocks were among the more notable standouts. Bank of America (BAC) and JPMorgan Chase (JPM) were two of the better performers in the Dow. Morgan Stanley (MS) and Goldman Sachs (GS) were each up more than 1.5% And Citigroup (C) had gained more than 2%.
The big banks have been riding a hot streak for the MOREPaul R. La Monica - Aug 20, 2012 2:11 PM ET
The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
Happy days are here again for the stock market. If you love round numbers, then today is your day. The Dow is back above 13,000. Nasdaq has vaulted above 3,000 again. And the S&P 500 has MOREPaul R. La Monica - Aug 7, 2012 12:55 PM ET
It's a good thing that Citigroup (C), JPMorgan Chase (JPM) and Wells Fargo (WFC) still do some good, old-fashioned retail banking. The Wall Street business stinks.
Citi reported a better-than-expected second quarter profit Monday -- despite year-over-year declines in investment banking as well as equity and fixed income trading. Shares were up on the news, following a nearly 5.5% pop for Citi on Friday on the back of JPMorgan's kitchen sink MOREPaul R. La Monica - Jul 16, 2012 12:26 PM ET
Libor. How many people gave it a passing thought before this scandal? In fact, I'm surprised that more people are still not giving it much thought.
The scandal, after all, is another sign of banks doing what they want, making a lot of money and not really getting in all that much trouble (yet, anyway).
To review: The London Interbank Offered Rate is the basis for many consumer loans and investments. It MORECatherine Tymkiw - Jul 9, 2012 3:19 PM ET
Ever feel like the financial markets are simply a rigged game where the house (i.e. the world's largest banks) always win? Reading text messages and emails between traders at Barclays (BCS) about their often successful attempts to manipulate global benchmarks for interest rates will only reinforce that belief.
These traders influenced the pricing of the London Interbank Offered Rate or Libor, a benchmark that dictates the pricing of up to $800 MOREMaureen Farrell - Jul 4, 2012 8:48 AM ET
Good news from Europe! The euro surged Friday morning on news of a deal to help recapitalize banks. Bond yields in Spain and Italy fell. Stocks around the world rallied and there was a nice pop on Wall Street as well.
Bad news from Europe! The euro surged Friday morning on news of a deal to help recapitalize banks. Bond yields in Spain and Italy fell. Stocks around the world rallied MOREPaul R. La Monica - Jun 29, 2012 11:28 AM ET
The fun never ends with JPMorgan Chase (JPM). Shares fell nearly 4% Thursday following reports that the loss tied to its bad hedge (or is it a trade?) may now be $9 billion.
This should not come as a big surprise to anyone following the story. JPMorgan Chase CEO Jamie Dimon first said back in May that the loss was $2 billion. And not long after that, experts were claiming that MOREPaul R. La Monica - Jun 28, 2012 12:38 PM ET
Spanish 10-year bond yields have officially pulled a Kenny Loggins and ridden into the 7% danger zone. Italian bond yields are north of 6% again and climbing. And oh yeah, Greek elections on Sunday may lead to the end of a Hellenic presence in the euro and a return to the drachma. The crisis is far from over.
So what's the European Central Bank doing to try and stop it from MOREPaul R. La Monica - Jun 14, 2012 12:41 PM ET
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