Weekly Economic & Investment Wrap Up: 3.14.08

March 18, 2008 |

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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 March 14, 2008. Ex-Governor Eliot Spitzer’s “incident” brought a little comic relief to what had otherwise been a dark and gloomy time on Wall Street.  Of course, even traders and portfolio managers with underwater positions can find comfort and take great delight in the misfortune of others (especially when those “others” are despised by most on the Street).  While the economic numbers still remains weak and recession talks are heating up with each passing day, Chief Bernanke turned to some creative financing arrangement to help breathe life back into the economy and the markets.  (And, it worked, if only for one day).  Oil soared to new records for no good reason, leaving some energy analysts “hopeful” that once any semblance of normalcy (or reality) returns, oil and gas prices could tumble (pretty significantly and quickly).  News of a near failing by Bear Stearns (and a subsequent bailout) reminded investors that the crisis is far from over.  (Who will be next?)  The Fed meets next week and most watchers are again looking for more of the same.  Anything short of a 75 bps cut will most likely be viewed with disappointment.  So much for those creative juices, Dr. B.  
Coming up in the week ahead:  Industrial Production (Monday), PPI (Tuesday),
Housing Starts (Tuesday), Fed Policy Statement (Tuesday), Good Friday
(Friday)

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