Portfolio

The State Street Investor Confidence Index rose 6.8 point in May to 104.1, its highest reading since December. The increase was led by North American investors, among whom confidence rose 7.7 points to 106.3 from 98.6 in April. European investor confidence rose 5.2 points to 79.0 from 73.8. However, Asian investor confidence fell 2.7 points to 96.7 from 99.4.

John Hancock Funds has launched the John Hancock Hedged Equity & Income Fund, a closed-end fund that had its initial public offering on the New York Stock Exchange on Friday. This is Hancock’s tenth closed-end fund. Wellington Management is the subadvisor.

The District of Columbia’s budget vote last Wednesday jolted local municipal bond investors who could see their taxes jump on Oct. 1 as a result of a provision to tax the interest earnings from munis issued outside the district.

The Central Texas Regional Mobility Authority, the first toll road agency of its kind in Texas, is looking for yield-hungry investors willing to take a risk on $374 million of revenue bonds at or below investment grade next week.

Barclays expects Greece will be propped up for another year. Raymond James' Jeffrey Saut likes technology stocks. Vanguard is still bullish on money markets. S&P looks for funds holding consumer staples stocks that might do better in a U.S. stock market downturn.

Although the unemployment rate in the U.S. is 9%, three-quarters of broker-dealers and registered investment advisors plan to hire in the next 12 months, and they plan to boost their staff by an average of 30%, Fidelity Investments found in a survey.

Workers who participate in 401(k) plans would be greatly served if a bill that has just been reintroduced in the Senate's Committee on Health, Education, Labor and Pension is passed.

FINRA has ordered Credit Suisse and Merrill Lynch to pay up after providing faulty data and supervision of residential subprime mortgage securitizations.

The Bloomberg Consumer Comfort Index rose to -48.2 in the week ended May 22, up from a nine-month low of -49.4 the previous week. Readings of -40 or less are associated with recessions and their aftermaths, Bloomberg said.

National Advisors Trust revamps its board of directors with a trio of new members and the appointment of a new chairman.