Monday Market Commentary

by Alex Stenback on May 1, 2006

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                                                         Graphic Courtesy MSNBC

Last Week

The Real Estate Sales metrics last week surprised those waiting for the "crash" as new home and existing homes sales posted record figures or bested consensus estimates.  Though rates worsened on this news, comments later in the week by Fed Chair Bernanke soothed the markets somewhat, as he hinted that the Fed may be ready to pause, and that inflation appears to be controlled.  Rates were virtually unchnaged as a result.
This Week
The April employment report heads this weeks economic calendar, which also holds a smattering of second tier data such as factory orders (Wed), Productivity and Costs (Thurs) and a couple of Treasury Auctions today (Mon).  A strong employment report will leave the interest rate markets little excuse to reverse their upward trend.
This Week’s Economic Calendar [barrons.com]

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