And That’s The Year That Was: 2007

January 5, 2008 | Leave a Comment

Attached (linked) please find “And That’s The ‘Year’ That Was”…the Brounes & Associates market/economic commentary for the period just ended December 31, 2007.  A year that started with so much promise could not have ended soon enough for many investors.  Heading into a presidential campaign season, eternal optimists were calling for a continuation of the bullish sentiment.  Oil prices were falling, the housing sector was primed for a rebound, incumbents were touting the strong economy, and opponents began pointing out how they could do better.  Then came Novastar, Accredited, New Century and a number of no-name mortgage lenders whose challenges served as a precursor for far greater problems among the nation’s largest financial institution.  The mortgage fiasco hit just as geopolitical turmoil prompted a rise (rather surge) in energy prices and once again the dreaded “I” word was creeping back into the water cooler conversation.  All the promise of the first half of the year suddenly disappeared by mid-summer and investors were fortunate to squeak out gains despite a woeful fourth quarter (and no Santa Claus rally).  Bernanke and friends remained busy throughout the past few months as the Fed attempted to balance the fears of recession with newfound threats of inflation.  So what are those incumbent/opposition politicos saying (or promising) now?

And That’s The Week That Was: 12.21.07

December 21, 2007 | Leave a Comment

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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