And That’s The Quarter That Was

April 3, 2008 |

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Attached (linked) please find And That’s The ‘Quarter’ That Was, the Brounes & Associates market/economic commentary for the period just ended March 31, 2008.  As go the first five trading days, so goes the entire year. (Hopefully that is not true this year.)  As goes January, so goes the entire year.  (Hopefully that is not true this year either.)  When an original NFL team wins the Super Bowl, the markets move higher.  (Didn’t anyone on Wall Street watch the Giants beat the Patriots?)  With all kinds of theories abound, the markets continued to take their negative cues this quarter from the subprime mess and ongoing credit crisis.  With more record write-downs (and lots of finger-pointing), the major equity indexes all tumbled and fixed income became the beneficiary of a flight-to-quality.  Bernanke put on his thinking cap and got pretty darn creative to prevent a further escalation of the “challenges.”  During the quarter, we said goodbye (and good riddance) to one-time financial giant Bear Stearns (whose investors may have gotten the raw end of the “bailout” deal.  While most analysts now anticipate a recession, a few eternal optimists believe that the second half of the year will bring a nice rebound (both in the economy and the markets). On that note, has ESPN-Classics started replaying this year’s Super Bowl yet?

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