- Reuters/Arnd Wiegmann
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These are the best places to live if you like saving money (GOBankingRates.com)
Personal finance website GOBankingRates.com released a new report on the best and worst places to live for people who want to save money. They looked at the 100 largest US cities by population, and based their ranking on seven factors: sales tax, median home list price, median rent price, median household income, unemployment rate, average reported gas prices, and grocery costs.
According to the GOBankingRates.com analysis, the top five places for saving money are Gilbert, AZ, Plano, TX, Lubbock, TX, Kansas City, MO, and Chandler, AZ. On the flip side, the five worst places for saving money are the California cities of San Francisco, Los Angeles, Oakland, Irvine, and Anaheim.
A stronger yen is good for US inflation expectations (Advisor Perspectives)
“Our models project that the recent strengthening of the yen will increase US import prices from Japan by about 2% over the next six months,” writes Eric Bush of GaveKal Capital.
“A stronger yen has already helped to boost inflation expectations. Since February 11th, 10-year TIPS implied breakeven inflation has increased from 118 bps to 158 bps. During this period, the yen has strengthened by about 8%. A further strengthening in the yen could increase inflation expectations by 30-50 bps.”
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SEC chair Mary Jo White told a Senate panel on Tuesday that she would be “delighted” if the agency had arrest powers, reports Ted Knutson.
“Currently, the SEC can only pursue civil penalties in court, and through its administrative law judges and settlements,” Knutson writes. “Giving the SEC criminal authority is not under discussion in Congress now and was not a possibility openly discussed in the development of the Dodd-Frank Act.”
A Chinese securities firm is scooping up AssetMark (ThinkAdvisor)
AssetMark announced on Monday that it’s being acquired by Chinese securities firm Huatai Securities, reports Bernice Napach.
“When the deal is completed, AssetMark will become an indirect subsidiary of Huatai, and, according to a company statement, operate as an independent company with the same leadership team, brand sales and service structure and strategy,” reports Napach. “AssetMark’s portfolio strategist lineup and its custodian options will also remain unchanged.”
Cambridge Savings Bank is joining forces with robo-adviser SigFig (InvestmentNews)
Boston-based Cambridge Savings Bank is teaming up with a San Francisco-based robo-advisor called SigFig to offer an investment management tool called Connect Invest, reports Alessandra Malito.
“There are a lot of banks that have checking accounts, but investment accounts are not usually a part of the default,” said Mike Sha, chief executive of SigFig. “Ten years ago the idea of banks partnering with fintech companies was almost like a joke that would never happen, and these days you see that happen more and more.”