Talking to the Heavens by Andy Cosgrove
Last Week
Comments by The Fed (accompanying the .25% rate hike) signaling that they are paying closer attention to inflation, ["Pressures on inflation have picked up in recent weeks"] especially as it relates to rising energy prices, sent bond prices tumbling and spiked mortgage rates. For the week, interest rates on most mortgages rose by about 5/8 of a discount point.
Looking Ahead
The big number to watch this week will be the employment report on Friday. Though consumer confidence, income & outlays, factory orders, consumer sentiment, and the ISM Index are also on the calendar this week and bear watching.
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