And That’s The Week That Was: 12.21.07

December 21, 2007 |

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Attached/linked please find And That’s The Week That Was…the Brounes & Associates market/economic commentary for the week ended December 21, 2007.  Is anyone out there?  Do folks work after market close on the day before Christmas Eve?  What if today was the start of the “Santa Claus rally” and nobody was around to notice?  These days, best practices among financial services companies seem to mean selling stakes to foreign state-owned funds.  Add Morgan Stanley and Merrill Lynch to that growing list.  (The motto, “Singapore’s Temasek Holdings Pte. Ltd. is bullish on America” has a nice ring to it.)   With investors sick of the ongoing mortgage negativity, many turned their attention to techs which may represent the last bastion of market strength (thanks Oracle).  Meanwhile, the Fed conducted two “impromptu” auctions that garnered some decent bank participation, and a few once proud and respected governmental officials threw in their “expert” analyses on the never-ending credit crisis.  Three days and counting until the holiday shopping season officially ends and analysts still have no clues about its overall success.  Here’s to hoping it’s a happy one for you and your families. 

Coming up in the week ahead:  Durable Goods (Thursday), Consumer Confidence (Thursday), Existing & New Home Sales (Friday)

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