August 27, 2007 |
Attached/linked please find And That’s The Week That Was…the Brounes & Associates market/economic commentary for the week ended August 24, 2007. The summer is winding down; folks are planning for one last Labor Day vacation getaway; schools are back in session; the NFL season is upon us. And, yet, the business news of the day never seems to change. Subprime, Countrywide, Fed actions, flight-to-quality…its beginning to sound like a broken record. Subprime, Countrywide, Fed actions, flight-to-quality…its beginning to sound like a broken record. Well, for a change, this week’s market movements had a positive feel (unless you owned the 3-month t-bill) as investors took another flier on equities. There was a short-lived rumored Warren Buffett sighting, a Bank of America-led “bailout,” and some decent releases on the economic front. At this point, we will take any positive news we can get.
Coming up in the week ahead: Existing Home Sales (Monday), Consumer Confidence (Tuesday), GDP (Thursday), Personal Spending/Income (Friday)