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Stocks sold off on Friday as Spanish bond yields spiked above 7% - a level that has meant trouble for other European countries. The Dow lost 121-points on the day.
Volatility continues to hamper confident positioning when it comes to TSP Management. Overall stock positions remain conservative, while bond and cash levels rise going into the new trading week.
The Top 50 dropped their stock exposure by 8.7%; from 28.2% to 19.5%. This group is also sporting a higher bond allocation than stocks.
Europe trumps earnings
Second quarter earnings have been pretty good so far and we hadn't been seeing the typical mid-July "sell the news" reaction this year, but troubles in Europe with Spanish yields rising well above 7% on Friday, a new high in the euro era, and stocks backed off.
Here are the TSP fund returns for the week of July 16 through
Most “likes” on Facebook corporate pages could be fraudulent...
By Jack B. Winn
According to the security firm Sophos, most “likes” on Facebook corporate pages such as Ford, GM, Krispy Kreme and others could be fraudulent.
"Spammers and malware authors can mass produce false Facebook profiles to help them spread dangerous links and spam, and trick people into befriending them" Sophos'
Stocks bounced around quite a bit on Thursday as investors are as uncertain as the indicators are telling us they are. The Dow gained 35-points but that was nearly 70-points off of the day's high, and it was also in negative territory at 3 or 4 different occasions during the day.