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Tax Battle Heats Up on the Hill

Return to the Gold Standard? (Financial Times) The president of the World Bank, Robert Zoellick, suggests a return to a Breton Woods-like standard ahead of this week's G20 meeting, where the topic is likely to turn to the thorny issues surrounding global currency standards.

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Irish Sovereign Debt Prices Plunge on Default Fears (New York Times) Despite — or perhaps because of — Ireland's announcement to double its spending cuts and tax hikes, investors fled Irish government bonds in droves. Fundamental concerns about the Irish fiscal outlook, as well as technical factors involved in the trading of eurozone debt, appear to be to blame.

Tax Battle Heats Up on the Hill (WSJ) The new Republican majority in the House has begun to assert itself over retaining tax cuts, while the White House may be signaling new flexibility on the issue. Is a deal in the offing?

Great Recession's Long Term Impact (Yahoo via AP) Despite having technically ended nearly 18 months ago, the impact of the recession is still being felt – especially in patterns of consumer spending.

Obama Alone in 2012? (Politico) After taking a drubbing in the 2010 midterm election, Democrats may be reluctant to ally themselves closely with the president during his bid for re-election in 2012.

Wall Street

  • Robert Shiller

    Nobel Prize-winning economist Robert Shiller says that his key valuation indicator is flashing warning signs.

  • Lael Brainard

    The Fed is in the early stages of an analysis on changes in bond market liquidity, amid signs that liquidity may be less resilient than in past.

  • Bill Gross

    Janus Capital acquired a majority interest in Kapstream Capital and said Kapstream's Palghat will support Bill Gross as co-portfolio manager of the Janus Global Unconstrained Bond strategy.