Earn Greece sets March 8 deadline for investors in bond swap

Earn Greece sets March 8 deadline for investors in bond swap The Parthenon on the Athens Acropolis is seen behind a Greek and an EU flag atop the Greek ministry of finance February 8, 2012. REUTERS/Yannis BehrakisEnlarge Photo The Parthenon on the Athens Acropolis is seen behind a Greek and an EU flag atop the Greek ministry of finance February 8, 2012. REUTERS/Yannis Behrakis ATHENS (Reuters) - Greece has set a March 8 deadline for investors to participate in its unprecedented bond swap aimed at sharply reducing its debt burden, according to a document outlining the offer. Greece formally launched the bond swap offer to private holders of its bonds on Friday, setting in motion the largest-ever sovereign debt restructuring in the hope of getting its finances back on track. In the document, Greece said the March 8 deadline could be extended if needed. Athens in the past has said it wants to conclude the transaction by March 12. The swap is part of a second, 130 billion euro ($175.02 billion) rescue package to claw Greece back from the brink of a default that had threatened to send shockwaves through the financial system and punish other weak euro zone members. ($1 = 0.7428 euros) (Reporting by George Georgiopoulos, Writing by Deepa Babington; Editing by Elaine Hardcastle)

Earn Analysis: Oil price rise raises specter of global recession

Earn Analysis: Oil price rise raises specter of global recession LONDON (Reuters) - A jump in energy prices is jamming the slow-turning cogs of an economic recovery in the West, but that may be nothing compared to the economic shock an Israeli attack on Iran would cause. Oil rose to a 10-month high above $125 a barrel Friday, prompting responses from policymakers around the world including U.S. President Barack Obama, watching U.S. gasoline prices follow crude to push toward $4 a gallon in an election year. Europe may have more to fear as its fragile economic growth falters and Greece, Italy and Spain look for alternative sources to the crude they currently import from Iran, where an EU oil embargo, intended to make Iran abandon what the West fears are efforts to develop nuclear weapons, comes into force in June. In euro terms, Brent crude rose to an all-time high of 93.60 euros this week, topping its 2008 record. 'The West's determination to prevent Iran acquiring nuclear weapons is coming at a price - a price that might include a second global recession triggered by an oil shock,' said David Hufton from the oil brokerage PVM. In dollar terms, oil prices are still some $20 a barrel short of their 2008 record of $147. But the latest Reuters monthly survey will Monday show oil analysts revising up their predictions for Brent crude by $3 since the previous month. Such a change is big in a poll of over 30 analysts, and last happened at the peak of the Libyan war in May. Ian Taylor, head of the world's biggest oil trading house Vitol, told Reuters this week prices could spike as high as $150 a barrel if Iran's arch-enemy Israel launched a strike at its nuclear facilities - an option Israel has declined to rule out. 'I used to think this would never happen,' Taylor said, 'but everyone you speak to says the Israelis will have a go at striking at Iranian nuclear sites. 'The day that happens, you have to believe the Iranians throw a few mines in the Strait of Hormuz and, for a few hours at least or maybe more, I cannot see a scenario where prices would not be at that sort of level ($150).' The U.N. nuclear watchdog said Friday Iran had sharply stepped up its uranium enrichment, which Iran insists is solely for civilian purposes. Israel has warned that, by putting much of its nuclear program underground, Iran is approaching a 'zone of immunity,' but it has also said any decision to attack is 'very far off.' Wall Street bank Merrill Lynch said this week that oil prices could climb to $200 over the next five years. ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> So far this year, dollar prices for Brent crude have risen by more than 15 percent, pushed up mainly by fears about Iran. The loss of supply from three small and mid-sized producers suffering internal turmoil - Syria, Yemen and South Sudan - has added to the supply worries. WEAK GROWTH, HIGH PRICES A stabilization of the U.S. economy may explain some of the rise in oil prices, but the global economy is growing far more slowly now than at this time last year, yet crude prices are just as high. World equities and oil have typically been closely correlated since 2008 because both were driven by global demand. However, as oil prices start to respond to supply problems, the correlation is evaporating, and the global economy is already paying a high price. Data published this week showed unexpectedly weak activity in Europe's most powerful economy, Germany, and in France, sparking fresh worries that the region could tip into recession. Few have forgotten that in 2008, within six months of hitting its all-time high, oil plunged as low as $35 a barrel with the onset of the global credit crisis. In the United States, demand for refined oil products is close to its lowest level in nearly 15 years, indicating that motorists are cutting back their mileage. 'The price spike is going to be a challenge for politicians in the West running for re-election,' said Olivier Jakob from the Petromatrix consultancy. He said developed countries would find it hard to justify a release of strategic oil stocks similar to what they did in 2011. Unlike a year ago, when Libyan oil exports were disrupted by a war, this year 'there is ... instead a voluntary restriction on buying from a specific country,' said Jakob. Other than a release of oil stocks, developed countries could resort to yet another round of monetary easing, to which emerging markets will respond with quantitative tightening, price controls and subsidies, said analysts from HSBC. 'In terms of fiscal health, it would seem that Asia is better placed than other regions to deal with an oil price shock,' HSBC said in a note last week.

Earn Consumer Comfort Highest in Six Months

Earn Consumer Comfort Highest in Six Months Consumer confidence in the U.S. last week reached the highest level since July as the improving job market helped allay pessimism. The Bloomberg Consumer Comfort Index was minus 44.7 in the period ended Jan. 8 from minus 44.8 the prior week. As recently as October, the index registered its lowest readings since the 2007-2009 recession, making 2011 the second-worst year in 25 years of data. It's since increased in four of the past five weeks. 'Considering where it's been, the trend is a welcome one,' Gary Langer, president of Langer Research Associates LLC in New York, which compiles the index for Bloomberg, said in a statement. 'Sentiment is hardly on a predictable path, given factors including the uncertainty of the 2012 presidential election, volatility in global markets and economic question marks from Europe to China.' Less unemployment and growing payrolls may be lifting consumers' moods, providing the spark for increases in consumer spending, which accounts for about 70 percent of the economy. Nonetheless, gasoline prices that are once again rising and wage gains that fail to keep pace with inflation may be obstacles to greater improvement in confidence. Other reports today showed retail sales rose less than forecast in December and claims for jobless benefits climbed more than projected in the first week of the year. Retail Sales Purchases increased 0.1 percent last month after a 0.4 percent advance in November that was more than initially reported, Commerce Department figures showed. Economists forecast a 0.3 percent December rise, according to the median estimate in a Bloomberg News survey. Purchases excluding automobiles fell 0.2 percent, the first decline since May 2010. The number of applications for unemployment benefits climbed by 24,000 to 399,000 in the week ended Jan. 7, Labor Department figures showed. The median forecast of 46 economists in a Bloomberg survey projected 375,000. Stocks rose as sales of government securities in Spain and Italy eased concern the countries would struggle to finance their debts. The Standard & Poor's 500 Index climbed 0.1 percent to 1,293.76 at 9:40 a.m. in New York. The comfort survey's gauge of Americans' views of the current state of the economy rose to minus 82.1 last week from minus 82.9 in the prior period. The buying climate index held at minus 49.4, and the measure of personal finances decreased to minus 2.6 from minus 2.2. The gain in the cumulative Bloomberg index last week was within the survey's three-point margin of error. More Jobs Better employment opportunities are probably holding up confidence. Payrolls increased by 200,000 in December, and the jobless rate dropped to 8.5 percent, the lowest since February 2009, a Labor Department report showed last week. Employers added 1.64 million workers in 2011, surpassing the prior year's 940,000 advance and the biggest gain since 2006. Sentiment has been improving among lower-income Americans. The index for those earning less than $15,000 per year increased to the highest level since October, and those making up to $24,999 were the most optimistic since February. The ebbing of pessimism was also evident among older households. The measure of confidence among those older than 65 rose to minus 39.9, the best reading since April. Brighter moods may help drive consumer spending in 2012 following the holiday shopping season. 'Extremely Pleased' 'We are extremely pleased with our December sales results as we significantly exceeded our expectations,' Sherry Lang, a spokeswoman for TJX Cos. said in Jan. 5 conference call. Sales at the Framingham, Massachusetts-based retailer increased 8 percent last month. 'Further, we entered January with very lean inventories and the flexibility to ship fresh merchandise at great values to our stores.' The gain in the Bloomberg index parallels improvement in other surveys. The Conference Board's confidence gauge increased in December to the highest level since April. That same month the Thomson Reuters/University of Michigan index of consumer confidence rose to the highest level since June. Nonetheless, rising gasoline prices may constrain sentiment. The cost of a regular gallon of fuel at the pump climbed to $3.38 yesterday, up 5.5 percent from a 10-month low reached on Dec. 20, according to data from AAA, the nation's largest auto group. 'While the recent trend in consumer confidence is encouraging, risks remain,' said Joseph Brusuelas, a senior economist at Bloomberg LP in New York. 'The recent rise in gasoline prices is likely to act as a restraint on improving consumer confidence in January.' Annual Averages Bloomberg's comfort index, which began in December 1985, averaged minus 46.8 for all of last year, second only to 2009's minus 47.9 as the worst year on record. The gauge averaged minus 45.7 for 2010. The Consumer Comfort Index is based on responses to telephone interviews with a random sample of 1,000 consumers 18 years old and over. Each week, 250 respondents are asked for their views on the economy, personal finances and buying climate; the percentage of negative responses for each measure is subtracted from the share of positive views. The results are then summed and divided by three. The most recent reading is based on the average of responses over the previous four weeks. The comfort index can range from 100, indicating every participant in the survey had a positive response to all three components, to minus 100, signaling all views were negative. Field work for the index is done by SSRS/Social Science Research Solutions in Media, Pennsylvania. To contact the reporter on this story: Alex Kowalski in Washington at akowalski13@bloomberg.net To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

Earn How the Election and Economy Will Impact Your Portfolio

Earn There's plenty of data to help handicap the market during Presidential election years and it happens to be siding on the investor's team when it comes to an incumbent up for re-election. Jeffrey Hirsch, the editor-in-chief of the Stock Trader's Almanac crunched those numbers and says since the beginning of the Dow in 1896, an incumbent president has run for re-election 19 times; 14 of those were up years for the DJIA. 'Just the fact that there's somebody in office running again is a good sign for the year — 9% on average — what happens is early on if it's a real popular president doing well the market stays up,' Hirsch says. 'If you've got someone really unpopular come election time and they get ousted, there's a rally in November/December, sort of a 'ding dong the witch is dead' type of rally.' As for those five times when the trend didn't hold, only two were particularly bad years: 1932 which saw the removal of Herbert Hoover and 1940 when World War II was already raging in Europe. It's not just the election that offers insight into the next eleven and a half months. Hirsch notes that the end of the 'deflation fear period' should be a good sign in the short-term, but further down the road it 'puts a cap on things.' He cites a housing market that picked up and then flat-lined, consumer confidence that has come up (but not enough), and improving unemployment numbers as a sign that the economy is on the mend. He says it is 'good enough to keep us from having a really bad year' but not good enough to see a breakout to new highs. Specifically Hirsch is looking at 5-10% growth year-over-year, with a Dow target somewhere between 13,000 and 13,500. Still, he cautions the economy, the election, Europe and any number of other international factors could lead to amended forecasts in either direction. Then there's the market volatility — the same that plagued investors throughout 2011. Hirsch says it's here to stay again in 2012. 'Come spring you start looking for a technical trigger,' says Hirsch. 'Get a little bit more on the sidelines, take some profits, cover yourself...and then get back in for the year-end rally...Trade the seasons, trade the range and you should do okay.' How are you playing the election year, the economy and the volatility? Tell us on our Facebook page or in the comments below. Related Quotes: ^DJI 12,428.26 -21.19 -0.17% ^IXIC 2,715.99 +5.23 +0.19% ^GSPC 1,291.70 -0.78 -0.06%

Forex BlackRock to Buy ETF firm Claymore

Forex BlackRock to Buy ETF firm Claymore RELATED QUOTES Symbol Price Change FII 17.45 +0.08 BLK 184.09 +0.22 BlackRock Inc. (NYSE:BLK - News) has agreed to buy Claymore Canada from Guggenheim Partners LLC. The announcement came out yesterday and it was said that both parties have entered into a definitive agreement in this context. With this deal, BlackRock would be able to expand its exchange-traded fund (AMEX:ETF - News) business in Canada. Claymore is based in Toronto and acts as an independent Canadian subsidiary of Guggenheim Funds Services Group, a subsidiary of Guggenheim Partners, LLC. BlackRock, the leading asset manager in the world, currently manages $3.3 trillion in assets worldwide. The deal will result in addition of 34 ETFs and two closed-end funds, representing C$7.0 billion in asset under management. As of December 31, 2011, BlackRock offered 48 ETFs in Canada under the iShares brand, representing C$29.0 billion in assets under management. The deal, which is subject to regulatory approvals and customary closing conditions, is likely to be accomplished by the end of the first quarter of 2012. The deal, whose terms are still undisclosed, is expected to be neutral-to-modestly accretive to BlackRock's 2012 earnings. We believe that the acquisition of Claymore will provide BlackRock with competitive edge to grab market share in the Canadian ETF market and hence, is a strategic fit for the company. BlackRock currently retains a Zacks #3 Rank, which translates into a short-term 'Hold' rating. Among its peers Federated Investors Inc. (NYSE:FII - News) also shares the same Zacks rank. Zacks Investment Research

Forex Why You Shouldn't Manage Your Friends' Money

Forex Why You Shouldn't Manage Your Friends' Money So you put away some nice returns this year - not too shabby. While you can't be blamed for bragging about good performance, it's not uncommon for friends to want a part of the action. What would you do if a friend asked you to make investments on his or her behalf? In this article we'll show you the highs and lows of investing for others. Taking Advantage of Your Financial Knowledge It's no surprise that your pals might want you to manage a couple of bucks for them. If you're pulling down decent returns and talking about your investing strategies, you've now become the go-to guy (or girl). These days, money talks and people who understand the financial world are getting a lot of respect as young people realize there's more to investing than they once thought. If you have financial knowledge, people who know you might view you as a very valuable commodity - a free money manager. All too often, the person asking you to invest his or her money is the person who knows a little something about investing - just enough to get into trouble. If you're nailing double-digit returns this year, why couldn't you repeat the performance year after year, right? The Problems with Investing for Others You may think that investing for someone else is just a way of helping out a friend, but the thing is, when you start investing for other people, particularly your friends, you enter a world of complications that you might not have foreseen when you started out. Unrealistic Expectations That friend of yours, the one who thinks that your 35% returns this year are going to happen next year as well, might be in for a nasty surprise when your picks make next to nothing. When you invest for friends, you have to deal with unrealistic expectations that can really put a damper on a relationship. If your friends wants you to invest for them, they likely don't understand all of the risks involved with investing, including not quite meeting the investment goals that they may have been projecting. Losing a Friend's Money Not meeting a friend's investing expectations could jeopardize your friendship, but falling short of your friend's projected returns could be a best-case scenario. When things go wrong, making some money is a lot better than losing money, which isn't an abstract concept for anyone who invests actively. When you bring money into a relationship, things can get uncomfortable pretty fast, especially when that money is hemorrhaging out of an investment account. Do you tell the friend to suck it up? Do you repay the person out of your pocket? Do you try to make up the difference with new picks? Really, there probably isn't a good way to deal with losing a friend's money and you should consider this risk before you agree to invest for anyone. Legal Matters Managing a friend's money is a sticky business and if you go through with it you may be breaking the law. Investment professionals must be registered with the Securities and Exchange Commission or have a federal license. They are heavily regulated by the government and by trade organizations like the National Association of Securities Dealers, for the protection of consumers. If you invest for a friend for compensation, you could be breaking laws that are in place to protect investors from people who aren't qualified to have discretionary control over others' accounts. Short End of the Stick Despite the drawbacks, investing for friends isn't always doomed to failure. With skill, smarts and a whole lot of luck, you might rake in the cash. If that's the case, you still have to consider whether or not your friend is taking advantage of you. Helping out a friend is nice, but when that help consists of making significant amounts of money for that person and getting little or nothing in return, you might be suffering from an off-balance relationship. What You Can Do for Friends Now that I've taken the wind out of your sails, and your friend's as well, there are things that you can do to help your friends' investments without burdening yourself with the substantial responsibility of investing someone else's money. One of the best ways to lend a hand is to help teach your friend about investing. Help Them Learn There are a lot of pitfalls out there for new investors. If you're lucky, you've been able to avoid quite a few of them or you learned how you should have gone about avoiding them. The benefit of your experience can be one heck of an asset to pass on to a friend and it won't cost either one of you personally or financially. Therefore, if you want to help your friends, work with them; show them how to analyze a financial statement, how to execute a trade online, how to look up business news, or how to find online resources. Investment Clubs Going farther still, there is a popular way to invest hands-on with friends without taking on the responsibility that an investment advisor would feel for a client - the investment club. The investment club consists of a group of people who vote to decide whether or not to buy or sell their group-owned investments. Investment clubs are great, because they allow a more personal approach with actual investments than just helping someone with investing concepts. These clubs will also give you a vested interest in performance of your friend's portfolio. If you're interested in starting an investment club, there are plenty of resources available, ranging from your broker to the internet. It's important to recognize that an investment club isn't just a couple of people who want to invest together - it's a formal (and legally defined) organization with members who have an equitable claim to their assets. This means you should look into the rules and laws that govern investment clubs where you live before joining or starting one yourself. The Bottom Line Investing for a friend usually isn't worth the amount of trouble it can cause. Money just isn't something you want to bring into a good friendship. In the end, by helping your friends invest on their own, you'll be doing them, and yourself, a much bigger favor.

Signals Global economy on recovery path, risks remain: IMF chief

Signals IMF Managing Director Christine Lagarde attends a Eurogroup meeting ahead of a two-day EU leaders summit in Brussels March 1, 2012. REUTERS/Francois LenoirView Photo IMF Managing Director Christine Lagarde attends a Eurogroup meeting ahead of a two-day EU leaders summit in Brussels March 1, 2012. REUTERS/Francois Lenoir By Nick Edwards and Koh Gui Qing BEIJING (Reuters) - The global economy has stepped back from the brink of danger and signs of stabilization are emerging from the euro zone and the United States, but high debt levels in developed markets and rising oil prices are key risks ahead, the IMF said on Sunday. 'The global economy may be on a path to recovery, but there is not a great deal of room for maneuver and no room for policy mistakes,' International Monetary Fund (IMF) Managing Director, Christine Lagarde, said in a speech in Beijing. In a separate talk on the same day, Lagarde said that China's yuan could become a reserve currency in the future, adding that the country needed a roadmap for a stronger, more flexible exchange rate system. She said signs of stabilization were emerging to show that policy actions taken in the wake of the global financial crisis were paying off, that U.S. economic indicators were looking a little more upbeat and that Europe had taken an important step forward in solving its crisis with the latest efforts on Greece. 'On the back of these collective efforts, the world economy has stepped back from the brink and we have cause to be more optimistic. Still, optimism must not lull us into a false sense of security. There are still major economic and financial vulnerabilities we must confront,' Lagarde said. The IMF chief cited still fragile financial systems burdened by high public and private debt persists advanced economies as the first of three major risks and said euro zone public sector and bank rollover funding needs in 2012 were equivalent total about 23 percent of GDP. 'Second, the rising price of oil is becoming a threat to global growth. And, third, there is a growing risk that activity in emerging economies will slow over the medium term,' she said. Lagarde also said youth unemployment should be tackled and that all countries must persevere with their policy efforts if the progress made in stabilizing the global economy is to pay off with better prospects ahead. She said advanced economies must continue with macroeconomic support and a balanced fiscal policy, together with financial sector reforms and structural and institutional reforms to repair the damage done by the crisis and to improve competitiveness. Meanwhile emerging market economies need to calibrate macroeconomic policies both to guard against fallout from the advanced economies as well as to keep overheating pressures in check. SEES A YUAN 'ON PAR' WITH CHINA'S STATUS Lagarde's comments on the yuan as a reserve currency were the most direct endorsement to date by an IMF official of China's ambitions for its currency. 'What is needed is a roadmap with a stronger and more flexible exchange rate, more effective liquidity and monetary management, with higher quality supervision and regulation, with a more well-developed financial market, with flexible deposit and lending rates, and finally with the opening up of the capital account,' she told a gathering of leading Chinese policymakers and global business leaders. 'If all that happens, there is no reason why the renminbi will not reach the status of a reserve currency occupying a position on par with China's economic status.' Renminbi is another name for the yuan. China operates a closed capital account system and its yuan currency is tightly controlled, although Beijing has said it wants to increase the international use of the yuan to settle cross border trade and has undertaken a series of reforms in recent years to that end. Lagarde said China had showed leadership and adept policy skills when the global financial crisis exploded and which might have been worse but for the impetus it provided to growth and stability. China unveiled a massive 4 trillion yuan ($635 billion) stimulus package for its economy at the end of 2008 as the financial crisis reverberated around the world and global trade -- which China's massive factory sector depends on for growth and jobs -- shuddered to a standstill. Lagarde further praised what she said was China's leadership and influence in global institutions such as the IMF and G20 group of the world's 20 biggest economies. 'China has been instrumental in helping to make the global economic system less prone to damaging crises,' she said, adding that lingering weaknesses in the global outlook reinforced the importance of China maintaining a prominent role in global policy discussions and accelerating reform in its own economy. Lagarde said she saw three priorities for China, the first to support growth; second, to shift its drivers of economic growth away from investment and exports towards domestic consumption; and third, to spread wealth more widely. The IMF chief said it was crucial that the world's major economies were working together with the same objective. 'We are all interconnected and we are all affected by each other's policy actions. We need to prepare for success together. If we stand together, the whole will be more than the sum of the parts,' Lagarde said. (Additional reporting by Kevin Yao; Editing by Don Durfee and Jonathan Thatcher)

Oil Etisalat eyes mobile remittances in Gulf

Oil Etisalat eyes mobile remittances in Gulf Companies: AFN RELATED QUOTES Symbol Price Change AFN 0.00 0.00 Related Content A man walks past a sign at the headquarters of telecommunications company Etisalat in Dubai October 25, 2011. REUTERS/Jumana El HelouehView Photo A man walks past a sign at the headquarters of telecommunications company Etisalat in Dubai October 25, 2011. REUTERS/Jumana El Heloueh By Matt Smith DUBAI (Reuters) - UAE telecoms operator Etisalat (ABD:ETISALAT), which saw $1.8 billion moved over its network last year via money transfers, has sought regulatory approval to expand its financial services offerings in the Gulf region, home to millions of expatriates. Mobile money services allow customers to pay bills or make remittances using SMS text messages, often at a cheaper cost than through banks or money transfer firms. 'Remittances are a huge business opportunity,' George Held, director of products and services at Etisalat, told Reuters. 'The cost base for telecoms operators is much different than for banks and exchange houses. We do not need bricks and mortar branches, so our costs are lower and we can pass on this saving and offer better exchange rates and transaction fees.' The former monopoly was expected to focus on its home market and Saudi Arabia. Both countries have large expat populations and inbound annual remittances were worth about $36 billion combined in 2010, Held said. About 89 percent of the UAE's 8.3 million population are expatriates, while in Saudi Arabia just over a fifth of the 27 million population are foreigners. Etisalat's Egypt unit could also profit from an estimated $8 billion of inbound remittances from Egyptians working abroad. Etisalat has tied up with Western Union and MoneyGram International to allow money sent by mobile customers in the Middle East to be collected anywhere in the world. Aside from remittances, the operator hopes to offer salary payments, peer-to-peer domestic funds transfers and utility and shop payments. 'Remittances will be an extremely important part of our mobile money services. But it is not enough alone to drive service adoption, so we will offer a mix of services to make it very hard for customers not to get involved,' said Held. Etisalat already offers some of these services in six countries, including Afghanistan, Pakistan, Sri Lanka and Tanzania and plans to expand this to the 17 countries in which it operates in Asia, Africa and the Middle East. 'We want to introduce mobile money in the rest of our markets as soon as possible. It is not a technical issue, but ticking all the boxes from a regulatory, compliance and customer education point of view,' Held said. LESS MONEY, MORE LOYALTY Mobile money has taken off in parts of Africa, where a minority of people hold bank accounts and the banking infrastructure in rural areas remains limited. About 8 percent of Tanzania's gross domestic product is thought to go through mobile banking. Text-based financial services will not help stem a decline in global SMS revenues - seen dropping up to 40 percent over the next three years as users opt for alternative text services such as BlackBerry Messenger or WhatsApp - but it can improve customer loyalty. 'When people have a mobile wallet ... we believe they will stay with us for a long time,' Held said. 'When was the last time you changed your bank account?' Etisalat will face challenges in convincing customers in the Gulf region, who have easy access to banking and exchange houses, to switch. 'In this region, people are used to going to the bank for transactions - they like to get a receipt. It is not a game-changer for telecom operators' revenues,' said a regional telecoms analyst. Pedro Oliveira, partner at consultant Oliver Wyman, said telecoms operators face a tough task competing with conventional exchange houses. 'Low income workers in the Gulf count every penny. So, it is not convenience that matters, but cost,' he said. 'For expats with prepaid contracts wanting to send money home, they would have to buy prepaid cards to top up their phone balance and then send a text.'

Earn Why Brand Value Still Matters

Earn Why Brand Value Still Matters RELATED QUOTES Symbol Price Change PVH 74.26 +0.36 RL 143.11 -1.43 PVH's (NYSE: PVH - News) 2010 acquisition of Tommy Hilfiger turned out to be a good long-term prospect. PVH posted a handsome growth in profits in its third quarter, spurred mainly by Tommy's international sales. The growth speaks volumes for PVH, known to be a high-end clothier trying to sail through a struggling, cash-strapped economy. Let us take a closer look at what makes PVH tick. Good third-quarter showing PVH's net income came in at $112.2 million, a 12% rise from $99.8 million in the year-ago period. Continued healthy sales for both its Calvin Klein and Tommy Hilfiger brands of clothes spurred this growth. Strong sales, both domestic and international, also boosted revenue by 9% from last year to $1.65 billion. This even exceeded management expectations. Tommy Hilfiger, in particular, went a notch ahead of Calvin Klein, as the former's strong international sales base led it to post an earnings increase of 27% over Calvin Klein's 13%. Naturally, PVH felt confident enough to raise its full-year outlook. What spurred the growth Tommy Hilfiger's strong international sales were a major boost to PVH's third-quarter figures, as the brand registered a 17% growth in revenue over last year, spurred by key markets such as the United Kingdom, Italy, and France. Of course, one of the main reasons behind Tommy Hilfiger's acquisition was because the former is known to generate a large chunk of its revenue from international markets. But then, its other flagship brand Calvin Klein was not far behind either as its revenues went up by a healthy 11%. However, PVH needs to check back on its competitors' progress as well. For instance, rival Ralph Lauren (NYSE: RL - News) also cashed in on robust sales figures to post a 14% increase in second-quarter profits. PVH needs to be particularly wary of Ralph Lauren, which is a highly aspirational brand, and whose overseas revenue is around 38% of the consolidated total. Ralph Lauren also caters to a similarly wealthy segment and is in the process of launching new brands such as Lauren footwear. The Foolish conclusion PVH is certainly not getting complacent as it aims to spend around $5 million more than what it did last year on international marketing, with the stress being on holiday campaigning through television and cinema. This is one company that has brand recall, caters to the high-end segment that is not really 'discount-dependant,' and has structured future plans. It may be a good idea to stock up on PVH. Fool contributor Subhadeep Ghose does not own shares of any of the companies mentioned in this article. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Signals Is the Euro Decoupling From U.S. Stocks?

Signals Is the Euro Decoupling From U.S. Stocks? Companies: EUR/USD S&P 500 NASDAQ Composite RELATED QUOTES Symbol Price Change EURUSD=X 1.2832 +0.0123 ^GSPC 1,291.87 -0.61 ^IXIC 2,715.73 +4.97 ^DJI 12,432.35 -17.10 FXE 127.78 +1.22 For much of the last 15 years the S&P 500 and euro (the EU currency) have been moving in the same direction. Since its May 4, 2011 high (the euro topped two days after U.S. stocks) the euro has tumbled 15%. Worse yet, the euro has been falling over the past few weeks even though the S&P has remained stable. Will the S&P soon catch up with the euro, or is the euro about to decouple its positive correlation with U.S. equities? Euro Problems Euro problems are the reason for the bad euro season. U.S. stocks got to enjoy the Santa Claus Rally while the euro was stuck with debt concerns that include: - Eurozone governments need to refinance more than $1.3 trillion in debt in 2012. - Yields on Italian bonds crept up about 7% again (above 7% yields send Greece into a tailspin). - Standard & Poor's is expected to strip France of its AAA rating as early as this month. - Spain's banks need to raise an extra $65 billion to cover bad property loans. - In February, Italy needs to sell more debt than could be covered even if investors used all the proceeds of maturing securities to buy the bonds. Euro Hope Things are so bad for the euro (EURUSD=X), they are good. So it seems at least. The chart below shows the euro holdings of the 'smart' and 'dumb' money published by the Commodity Futures Trading Commission. The first gray graph shows total non-reportable short positions. Non-reportable are small traders considered the dumb money. The second gray graph shows reportable commercial short positions. Commercial traders are the 'pros' that actually provide a commodity or instrument and are considered the smart money. The data shows that non-reportable short positions are pretty high right now (data as of Tuesday) while commercial traders have closed nearly all their short positions. Based on COT sentiment data, the euro should be close to a bottom, at least a temporary one. Cause for U.S. Stock Rally? But wouldn't a rising euro translate into rising U.S. stocks? Under normal circumstances, yes it would. A look at the chart below shows that a rising euro usually correlates with a rising S&P 500. The red boxes highlight periods of falling euro and rising S&P (such as lately). The green box identifies a period of time when a rising euro (NYSEArca: FXE - News) coincided with falling (even rapidly falling) U.S. stock prices. This happened from October 2007 - July 2008. Putting Odds in Your Favor It's no secret that I declared the rally from the October lows to be a counter trend rally. Back on October 2, I stated via the ETF Profit Strategy updated that: 'I don't think October will 'kill' this bear market, but it should spur a powerful counter trend rally. Towards the end of this rally Wall Street may applaud the Fed for launching Operation Twist and QE3 may be considered unnecessary. This kind of positive environment would be fertile soil for the next bear market leg (Q1 or Q2 2012). From a technical point of view this counter trend rally should end somewhere around 1,275 - 1,300.' To identify high-probability trade setups, I like to see technicals, sentiment, and seasonality point in the same direction, such as they did in early October. From a seasonal perspective, October has the reputation of a 'bear market killer.' Sentiment polls showed the most bearish readings in over a year and the VIX (Chicago Options: ^VIX) was close to the 2010 high. At the same time, the S&P had reached rock bottom support. Based on the weight of evidence, the October 2 ETF Profit Strategy update also predicted that: 'The ideal market bottom would see the S&P dip below 1,088 intraday followed by a strong recovery and a close above 1,088.' On October 4, the S&P briefly dipped below 1,088 and closed the day at 1,124. A massive counter trend rally was born that day. The Next Setup? Seasonality is once again turning bearish (or at the very least less bullish). Since 2002, the S&P reached a January top followed by a drop greater than 8% five (out of ten) times. 51.1% of all investment advisors and newsletter-writing colleagues (polled by II) are bullish on stocks (the highest reading since May 3) while only 17% of individual investors (polled by AAII) are bearish, the second lowest reading in six years. From a technical point of view, the S&P (SNP: ^GSPC - News) is about to reach a daunting resistance cluster comprised of Fibonacci levels and various long and short-term trend lines. The Dow (DJI: ^DJI - News) is about to encounter two trend lines that go back nearly five years. The resistance clusters for the Nasdaq (Nasdaq: ^IXIC - News), Russell 2000 (NYSEArca: IJR - News), and financials (NYSEArca: XLF - News) are not as glaring but they're there. The only thing that doesn't quite fit into the equation is the euro's sentiment data illustrated above. Nevertheless, the weight of evidence suggests that a turnaround for stocks, and possibly another significant market top, may be just around the corner. The high probability strategy is to short U.S. stocks as soon as the resistance cluster is reached or support is broken. The ETF Profit Strategy Newsletter identifies the target of this rally along with a short, mid and long-term outlook and the corresponding ETF profit strategies.

Oil Japan sees upward pressure on yen waning

Oil Japan sees upward pressure on yen waning Foreign exchange dealers are seen beneath an electronic board displaying the Japanese Yen's exchange rate against the U.S. dollar at a foreign exchange trading company in Tokyo February 22, 2012. REUTERS/Kim Kyung-HoonEnlarge Photo Foreign exchange dealers are seen beneath an electronic board displaying the Japanese Yen's exchange rate against the U.S. dollar at a foreign exchange trading company in Tokyo February 22, 2012. REUTERS/Kim Kyung-Hoon By Tetsushi Kajimoto MEXICO CITY (Reuters) - A senior Japanese Finance Ministry official said the upward pressure on the yen was easing and he saw nothing strange in the currency's movements as it pulls away from record highs below 80 yen versus the dollar. The official, speaking after the first day of the weekend gathering of Group of 20 finance ministers and central bankers, said the yen was not discussed at the meeting which was dominated by talks on the euro-zone sovereign debt crisis. But the G20 did discuss volatility in currencies as well as crude oil prices, the official said, adding that these issues may be mentioned in the communique expected at the end of the meeting on Sunday. Brent crude futures settled near a 10-month high above $125 a barrel on Friday on heightened concerns over tensions with Iran about its nuclear program. Japanese authorities will continue to respond to excess volatility in currencies, he added, signaling readiness to intervene if speculators push up the yen too high again to deal a blow to the export-reliant economy. 'We hear opinions overall, including at deputies' meeting, that volatility exists in the foreign exchange market, so I expect (G20) may mention that volatility warants close monitoring,' the official said. 'We have said that (the yen's) moves have been excessive including before and after (last year's) earthquake, which was not reflecting economic fundamentals. But I see nothing strange in the current movement,' he added. The yen, meanwhile, tumbled across the board, a downtrend that started with the Bank of Japan's recent monetary easing. Japan's trade deficit, widening interest rate differentials with the United States favoring the dollar and rising crude oil prices also have hurt the yen's prospects. The dollar hit a fresh 7-1/2-month high of 81.062 yen on trading platform EBS and was last 80.990, away from 75.31 yen hit last October when Japan intervened heavily to protect exporters and drew criticism from the United States. The Bank of Japan, along with the European Central Bank and the U.S. Federal Reserve, is taking unconventional steps to boost the economy. The BOJ boosted asset purchases by 10 trillion yen on February 14 and pledged to keep ultra-easy policy until a 1 percent inflation goal is in sight. Bank of Japan Governor Masaaki Shirakawa said on Saturday that policymakers were also closely watching the effects of monetary easing on crude prices. But he said he did not see monetary easing as a big factor and the recent spike was more due to geopolitical tensions and some bright spots in advanced economies after the New Year. 'Generally speaking, we'll closely watch effects and side-effects of monetary easing,' he said. (Additional writing by Krista Hughes; Editing by Ed Lane)

Signals Greece sets March 8 deadline for investors in bond swap

Signals Greece sets March 8 deadline for investors in bond swap The Parthenon on the Athens Acropolis is seen behind a Greek and an EU flag atop the Greek ministry of finance February 8, 2012. REUTERS/Yannis BehrakisEnlarge Photo The Parthenon on the Athens Acropolis is seen behind a Greek and an EU flag atop the Greek ministry of finance February 8, 2012. REUTERS/Yannis Behrakis ATHENS (Reuters) - Greece has set a March 8 deadline for investors to participate in its unprecedented bond swap aimed at sharply reducing its debt burden, according to a document outlining the offer. Greece formally launched the bond swap offer to private holders of its bonds on Friday, setting in motion the largest-ever sovereign debt restructuring in the hope of getting its finances back on track. In the document, Greece said the March 8 deadline could be extended if needed. Athens in the past has said it wants to conclude the transaction by March 12. The swap is part of a second, 130 billion euro ($175.02 billion) rescue package to claw Greece back from the brink of a default that had threatened to send shockwaves through the financial system and punish other weak euro zone members. ($1 = 0.7428 euros) (Reporting by George Georgiopoulos, Writing by Deepa Babington; Editing by Elaine Hardcastle)

Earn Glass is still half full for flush American farmers

Earn Glass is still half full for flush American farmers WASHINGTON (Reuters) - Brian Roach scrawled a simple outlook for corn prices in a spiral notebook, with a line diving from the upper left hand corner to the lower right. Sitting in a hotel ballroom at the U.S. Department of Agriculture's annual Agricultural Outlook Forum last week, the commodity broker predicted increasing supplies and weakening demand would slow a boom in the farm economy that has fattened growers' wallets and pushed up food prices. 'Nothing is telling me to think any different right now,' said Roach, president of the Florida-based commodity business Roach Ag Marketing. For the first time in years at the conference that traditionally kicks off the year for America's agri-business sector, forecasters said the seemingly endless upward trajectory on everything from crop prices to farmer income was coming to an end. The price of corn, the big daddy of the major U.S. crops, could fall 20 percent this year and because of expanding production globally, the corn stockpile would double. It is a significant shift after corn prices reached a record high near $8 a bushel last summer on concerns about strong demand draining inventories. The surge in prices is expected to encourage an expansion in planting of crops this year. Farmers are becoming 'very pragmatic about the investments they're making in machinery, equipment and input costs' after spending freely following last autumn's profitable harvest, said Thomas Dorr, president of the U.S. Grains Council. Many built new storage bins and upgraded their tractors and combines. Moving forward, 'the mood is one of caution,' Dorr said. To be sure, farmers are flush with cash after farm income topped $100 billion for the first time in 2011 as the rural economy rebounded from the pothole of the global recession. Even if income slumps to $96.3 billion this year due to larger world and domestic supplies as predicted by the government, farmers and ranchers would be looking at their second-best year ever. Income would remain well above the 10-year average. 'Prospects for U.S. agriculture continue to be strong with record income in 2011 and a strong balance sheet,' said Joe Glauber, the USDA chief economist. Still, there was a sense of deja vu of 2008 at the conference that attracts some 2,000 attendees. That year, farmers enjoyed sky high prices for their crops but marching in lockstep, was the price of crude oil. The recent spike in fuel prices could again add pressure to the farm economy. Energy costs squeeze farmer margins because they depend heavily on tractors, combines, pesticides and fertilizers -- which track the price of fuel -- to get most out of their land. 'Energy costs to a farmer are obviously a serious concern,' said David Berg, president of the American Crystal Sugar Company, based in Moorhead, Minn. 'It's almost like a few years ago where everyone was in a state of panic.' He said sugar beet farmers in Minnesota and North Dakota are doing well but a double whammy of lower prices on the market for the commodity and higher energy prices would be hard to swallow for a number of growers. 'The price of sugar is high enough so that an increase in energy costs is a negative for them, but it's not going to put them under water,' Berg said. 'If the price of sugar goes down from where it is today, it will very likely put some of them under water.' Tyson Foods also is worried about rising fuel costs, with Chief Executive Donnie Smith warning the recent jump in gas prices could dent demand for beef by reducing disposable income of consumers. Beef prices have reached record levels due to a historic drought that reduced cattle herds in the southern Plains and high prices for corn that is fed to livestock. 'You're not moving as much volume of meat but you're paying more for it,' Smith told reporters at the conference. A drop in demand for meat could hurt livestock producers even as increased grain production would cut their feed costs. Farmers are expected to go all out to get their seeds in the ground this spring, especially with the mild winter that is now coming to a close. The USDA estimates they will plant 94 million acres (38 million hectares) of corn, about 2 million acres more than last year and the largest area since 1944. Still, Jon Caspers, a producer of about 8,000 hogs a year in Iowa, is not breathing a sigh of relief due to high gasoline prices and lingering uncertainty about demand. He's also unsure farmers will plant as much corn as expected. Last year, heavy spring rains dashed their plans to plant from fence post to fence post. 'A lot of producers are waiting to see if it really happens,' he said. (Additional reporting by Charles Abbott; Writing by Russ Blinch; Editing by Marguerita Choy)

Forex Hotel industry looks for deal pace to pick up

Forex LOS ANGELES (Reuters) - Hotel companies and real estate firms are optimistic that deal transactions will pick up this year despite concerns about Europe's economy and challenges in obtaining debt financing. While a business-led economic recovery has helped lift U.S. hotel occupancy rates, development is still a soft spot as tight credit conditions have limited new-hotel builds. Still, there is a growing sense that the hotel sector has momentum and performance will continue to improve. 'People are expecting 2012 to be a pretty positive year, with solid performance by the industry in terms of the demand for hotel accommodations and the ability to get deals done,' Arthur de Haast, chairman of Jones Lang LaSalle Hotels, said at this week's Americas Lodging Investment Summit. The hotel investment services firm has forecast that hotel deals in the Americas this year will at least match the 2011 level in value of an estimated $15 billion. U.S. hotel deal activity picked up in the first half of 2011 but calmed in the latter part of the year as debt woes in Europe began dominating the headlines. While Europe is still a risk, attendees at the three-day hotel conference said a continued recovery marked by rising room rates would make the sector attractive for investment. 'There's a lot of money on the sidelines waiting to pounce and find opportunities,' said Christian Charre, president and chief executive of the Charre Group, a Florida-based hotel brokerage and consulting firm. FOREIGN MONEY Private equity funds that have capital will be in a good position to make acquisitions, some said. Real estate investment trusts were active buyers in the first half of 2011 but are expected to be quieter this year as their share prices suffered in the latter part of 2011. 'The mix of the investors probably will change,' said Sri Sambamurthy, co-founder of real estate firm West Point Partners in New York. He said Middle Eastern, European and Asian investors especially find the U.S. market to be extremely attractive now. 'The U.S. is still considered very safe, the dollar has performed extraordinarily well,' Sambamurthy added. Hotel companies said they were looking to make acquisitions in a bid to expand their reach. 'No question that we'll be active in the marketplace in 2012,' said Paul Whetsell, president and chief executive of Loews Hotels, which owns and/or operates 18 hotels. The unit of Loews Corp (NYSE:L - News) has committed more than $500 million to acquiring hotels or developing new properties. Whetsell said Loews is looking for 4-star or higher-rated hotels in major cities where it does not have a presence such as Boston, Washington, San Francisco, Chicago and Los Angeles, as well as smaller markets like Charlotte, North Carolina, and Baltimore, Maryland. Choice Hotels International (NYSE:CHH - News), which franchises hotels focused mainly at the mid-tier and economy market segments under brands such as Comfort Inn and Econo Lodge, said it is in the hunt to acquire a value-oriented, full-service upscale brand that would help attract more business customers.

Oil Europe hit by downgrade speculation

Oil ROME (AP) -- Europe's ability to fight off its debt crisis was again thrown into doubt Friday when the euro hit its lowest level in over a year and borrowing costs rose on expectations that the debt of several countries would be downgraded by rating agency Standard & Poor's. Stock markets in Europe and the U.S. plunged late Friday when reports of an imminent downgrade first appeared and the euro fell to a 17-month low. The fears of a downgrade brought a sour end to a mildly encouraging week for Europe's heavily indebted nations and were a stark reminder that the 17-country eurozone's debt crisis is far from over. Earlier Friday, Italy had capped a strong week for government debt auctions, seeing its borrowing costs drop for a second day in a row as it successfully raised as much as €4.75 billion ($6.05 billion). Spain and Italy completed successful bond auctions on Thursday, and European Central Bank president Mario Draghi noted 'tentative signs of stabilization' in the region's economy. A credit downgrade would escalate the threats to Europe's fragile financial system, as the costs at which the affected countries — some of which are already struggling with heavy debt loads and low growth — could borrow money would be driven even higher. The downgrade could drive up the cost of European government debt as investors demand more compensation for holding bonds deemed to be riskier than they had been. Higher borrowing costs would put more financial pressure on countries already contending with heavy debt burdens. In Greece, negotiations Friday to get investors to take a voluntary cut on their Greek bond holdings appeared close to collapse, raising the specter of a potentially disastrous default by the country that kicked off Europe's financial troubles more than two years ago. The deal, known as the Private Sector Involvement, aims to reduce Greece's debt by €100 billion ($127.8 billion) by swapping private creditors' bonds with new ones with a lower value, and is a key part of a €130 billion ($166 billion) international bailout. Without it, the country could suffer a catastrophic bankruptcy that would send shock waves through the global economy. Prime Minister Lucas Papademos and Finance Minister Evangelos Venizelos met on Thursday and Friday with representatives of the Institute of International Finance, a global body representing the private bondholders. Finance ministry officials from the eurozone also met in Brussels Thursday night. 'Unfortunately, despite the efforts of Greece's leadership, the proposal put forward ... which involves an unprecedented 50 percent nominal reduction of Greece's sovereign bonds in private investors' hands and up to €100 billion of debt forgiveness — has not produced a constructive consolidated response by all parties, consistent with a voluntary exchange of Greek sovereign debt,' the IIF said in a statement. 'Under the circumstances, discussions with Greece and the official sector are paused for reflection on the benefits of a voluntary approach,' it said. Friday's Italian auction saw investors demanding an interest rate of 4.83 percent to lend Italy three-year money, down from an average rate of 5.62 percent in the previous auction and far lower than the 7.89 percent in November, when the country's financial crisis was most acute. While Italy paid a slightly higher rate for bonds maturing in 2018, which were also sold in Friday's auction, demand was between 1.2 percent and 2.2 percent higher than what was on offer. The results were not as strong as those of bond auctions the previous day, when Italy raised €12 billion ($15 billion) and Spain saw huge demand for its own debt sale. 'Overall, it underscores that while all the auctions in the eurozone have been battle victories, the war is a long way from being resolved (either way),' said Marc Ostwald, strategist at Monument Securities. 'These euro area auctions will continue to present themselves as market risk events for a very protracted period.' Italy's €1.9 trillion ($2.42 trillion) in government debt and heavy borrowing needs this year have made it a focal point of the European debt crisis. Italy has passed austerity measures and is on a structural reform course that Premier Mario Monti claims should bring down Italy's high bond yields, which he says are no longer warranted. Analysts have said the successful recent bond auctions were at least in part the work of the ECB, which has inundated banks with cheap loans, giving them ready cash that at least some appear to be using to buy higher-yielding short-term government bonds. Some 523 banks took €489 billion in credit for up to three years at a current interest cost of 1 percent.

Earn Top 5 Global Mutual Funds

Earn Top 5 Global Mutual Funds Companies: Thornburg Global Opportunities A Artio Global Equity A Oppenheimer Global Opportunities A RELATED QUOTES Symbol Price Change THOAX 14.34 0.00 BJGQX 33.60 -0.06 OPGIX 27.86 +0.50 MWOFX 24.77 -0.12 ICDAX 11.66 +0.06 The fortunes of U.S. equity markets continue to be a key determinant of the health of the global economy. However, their dominance has receded significantly over the years and a world of exciting opportunities has emerged in global markets. Moreover, research has shown that a portfolio with a combination of domestic and foreign securities produces greater returns over the long term. Global funds allow investors to hold an optimum combination of international and domestic investments without incurring the costs of holding such securities individually. Below we will share with you 5 top rated global mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect these mutual funds to outperform their peers in the future. To view the Zacks Rank and past performance of all global funds, then click here. Thornburg Global Opportunities A (NASDAQ:THOAX - News) seeks capital growth over the long term. The fund invests in a wide range of equity securities worldwide. This includes common and preferred stocks, real estate investment trusts and other equity trusts. The global mutual fund has a five year annualized return of 2.1%. The global mutual fund has a minimum initial investment of $5,000 and an expense ratio of 1.48% compared to a category average of 1.44%. Artio Global Equity A (NASDAQ:BJGQX - News) invests the majority of its assets in companies worldwide. Under normal circumstances, not less than 40% of its assets are invested in at least three foreign countries. A maximum of 35% of its assets may be utilized to purchase emerging market securities. The global mutual fund has a three year annualized return of 10.04%. Rudolph-Riad Younes is the fund manager and he has managed this global mutual fund since 2004. Oppenheimer Global Opportunities A (NASDAQ:OPGIX - News) seeks capital growth as well as current income. The fund invests in a wide range of equity securities worldwide. The fund focuses on acquiring stocks, but may also purchase debt securities. The global mutual fund has a ten year annualized return of 8.53%. As of November 2011, this global mutual fund held 100 issues, with 5.24% of its total assets invested in Advanced Micro Devices Inc. MFS Global Growth A (NASDAQ:MWOFX - News) invests in both domestic and foreign securities, as well as emerging market securities. The fund may invest a substantial part of its assets in a relatively small number of countries. The global mutual fund returned 2.36% in the last one year period. The global mutual fund has a minimum initial investment of $1,000 and an expense ratio of 1.53% compared to a category average of 1.44%. Ivy Cundill Global Value A (ICDAX) seeks capital growth. The fund purchases both domestic and foreign equity securities. Not more than 20% of its assets are invested in debt securities issued by companies which have filed for bankruptcy or are likely to do so shortly. The global mutual fund has a three year annualized return of 8.15%. The fund manager is James Thompson and he has managed this global mutual fund since 2009. To view the Zacks Rank and past performance of all global mutual funds, then click here. About Zacks Mutual Fund Rank By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds.