Monday Market Commentary

by Alex Stenback on July 25, 2005

Msnbc_rates_21_july_1
                                                      Graphic Courtesy of MSNBC
Last Week

Rates sprung upward a bit when China unexpectedly de-pegged it’s currency to the dollar.  The macroeconomic impact of this is beyond the scope of what we normally get into in this space, so head over to The Big Picture and read up.  Also of note was the congressional testimony of Fed Chair Greenspan, as well as the minutes form the last Fed meeting, which showed some division among members as to when and how the rate hikes will end.  Last week was not a good week to be floating your rate.
This Week
Another fairly full calendar with GDP and ECI leading the list, though consumer confidence, durable goods orders, new home sales, and the Fed "Beige Book" will also be important and bear watching.
· This Weeks Economic Calendar [briefing.com]
· Latest Twin Cities Real Estate Market Report [PDF via MAAR]

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