And That’s The Week That Was

August 18, 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 August 17, 2007.  What’s the best way to ruin a vacation…more negative news in the markets.  (On that note…please excuse any typos.)  With the subprime issue now spreading to commercial paper, money market funds, and other more traditional mortgage lenders, investors seem to have few places to turn (other than short treasuries).  Bad news from Countrywide (among others) sparked another sell-off, though Bernanke attempted to ride in on a white horse to save the day (with a late week reprieve).  The Friday rally was certainly a nice sign (though investors will remain nervous through the weekend and beyond). 

Coming up in the week ahead:  Leading Indicators (Thursday), New Home Sales (Friday)

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