Monday Market Commentary

by Alex Stenback on July 18, 2005

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                                                                 Image via MSNBC.com
Last Week

The "big numbers" (PPI and CPI) last week amounted to a "big nothing," as traders and investors failed to get excited about the fact that inflation at the producer and consumer level was near nil.  Hopes for a rally in mortgage rates were tempered, apparently, by the release of the industrial production and capacity utilization figures, which both were better than expected.  Net for the week was a mild uptick in mortgage rates for some, but not all products. Ho-hum.
This Week
Most of the releases this week will be overshadowed by Fed Chair Greenspan’s Semi-Annual testimony before congress on monetary policy.  The two most important pieces of macro-economic news on the calendar will be contained in the June Housing Starts and Building Permits figures and the Leading Indicators number announced on Thursday.
· This Week’s Economic Calendar [briefing.com]
· Latest Twin Cities Real Estate Market Report [pdf v. MAAR.com]

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