Moody’s socks French banks

As Greece puts together a package of tax hikes and service cuts aimed at staving off default, ratings agency Moody’s delivered a punch to French bank stocks over intimations of a rating cut.

In the U.S. lawmakers and pontificators are arguing over the merits of retaining current capital gains tax rates.

Meanwhile, in the U.K., the bank of England’s chief economist recommended banks build barriers between their investment and retail operations. Costs are projected to reach $11 billion and take until 2019 to implement.

With all the turmoil, it seems drastic swings in direction for equity markets worldwide are becoming the new normal.

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.