They say it’s a good idea to check in on elderly loved ones during the hot summer months. And after the rough spring they had, it’s probably also a good idea to check in on loved ones managing equity hedge-funds.
Like many of us who’ve been in the vicinity of an FM radio or Jersey Shore club in the past month, the strategists at Morgan Stanley have Meghan Trainor’s song “All About That Bass” stuck in their heads.
The euro sank to a one-month low as Spanish and Italian bonds plunged after the ECB disappointed investors anticipating a more aggressive effort to fight the debt crisis. U.S. equities fell as investors awaited tomorrow’s jobs report.
U.S. stocks erased early gains as Federal Reserve Chairman Ben S. Bernanke’s testimony to Congress disappointed investors anticipating a more definitive signal the central bank was prepared to provide more stimulus.