Monday, 8-16-10
Last Week:
- After a strong move upward since early July, the markets reversed course and tumbled last week.
- The big news of the week came when the Federal Reserve downgraded their view on the U.S. economy. It came as no surprise after their “Beige Book” came out the week before pointing to the slowing of economy.
- One of the largest bond mutual funds lowered its holdings of U.S. government type holdings from 63% to 54%.
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This Week:
- July housing starts comes out on Tuesday. A slight increase is expected. It follows the August survey of home builders on Monday, which is expected to show continued depressed conditions.
- The Producer Price Index is expected to go from -0.5% +0.2%.
- Attention will continue to be focused on the weekly jobless rate, which will come out on Thursday.
- On Friday reports will be released on state and regional employment trends for July.
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All the best,
Chris
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