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This Week; the 10 yr note and mortgages will start at historic 60 yr lows; the equity market is likely to continue its volatility with the indexes declining through the week. Obama's jobs plan apparently hasn't gotten any traction with investors, since his speech the indexes were hit hard Friday. Most of this week's economic data comes at the later part of the week. In the meantime Treasury will auction $66B of notes and bonds Monday thru Wednesday.
The debt crisis in Europe continues to impact US markets with Greece this week scheduled to make an agreed cut in spending in order to get the second infusion to avoid default. Based on news out of the country, they may not be able to meet the conditions laid out. There are a few voices now that question whether Greece should just default and start over. The sovereign debt issues are spreading and taking Europe's banks down on concerns of defaults in a number of countries.
This week's data points; PPI and CPI for August, the Sept Philly Fed index and August retail sales. |
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