And That’s The Week That Was: 12.14.07

December 14, 2007 |

Attached/linked please find And That’s The Week That Was…the Brounes & Associates market/economic commentary for the week ended December 14, 2007.  So, which report was more widely read this week: the summary of the Fed’s policy meeting or the Mitchell report on steroid use in baseball?  While Dr. Bernanke probably had a better week than Roger Clemens and Andy Pettitte, he caught a bit of grief from investors who thought that a larger rate cut was in order.  As the week progressed, the major inflation releases brought new fears that the surge in oil prices is starting to work its way through other sectors of the economy.  The subprime debacle continued though one major investment firm seemed to benefit from others’ misfortunes.  Most equity indexes fell this week and suddenly those positive gains for the full year are no longer foregone conclusions (particularly among small-caps).  Likewise, fixed income securities lost value as investors tried to understand the ramification of a Fed liquidity plan.  Now, is HGH banned at the New York Stock Exchange? 

Coming up in the week ahead:  Housing Starts (Tuesday), GDP (Thursday), Personal Income/Spending (Friday)

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